Debt Payoff Planner

Compare snowball vs avalanche debt payoff strategies across multiple debts

About this calculator

The Debt Payoff Planner simulates paying off multiple debts month by month under the snowball strategy (extra money to the smallest balance) or the avalanche strategy (extra to the highest APR). Interest accrues monthly, minimums are paid on every debt, and freed-up minimums roll forward as debts close. It reports total months, total interest, total paid, and each debt's payoff month, and warns when a minimum payment can't even cover the monthly interest.

How to use the Debt Payoff Planner calculator

  1. Enter your amounts, rates and terms into the input fields.
  2. Read the result — it updates instantly as you type.
  3. Adjust the inputs to compare scenarios side by side.
  4. Copy the page URL to share the exact calculation.

Common examples

  • $5k card @19.99%, $12k car @6.5%, $3k loan @11% + $200 extra, avalanche → debt-free in 33 months, $2,602.71 interest
  • Same debts with snowball → 34 months, $2,863.97 interest — avalanche saves ≈$261
  • Single $8k card @22%, $200 min + $300 extra → paid off in 20 months, $1,555.97 interest

Frequently asked questions

How does the Debt Payoff Planner calculator work?

Enter your amounts, rates and terms, and the calculator applies the standard financial formulas to show the outcome, including intermediate figures where they help you understand the result. All arithmetic runs at high precision, so rounding errors do not build up across periods.

When would I use the Debt Payoff Planner calculator?

Use it when planning a purchase, loan, investment or budget, to compare options before committing, or to sanity-check figures quoted to you. It is an educational tool, not financial advice — confirm important decisions with your provider or a professional.

How accurate are the results?

The formulas are the standard ones used in finance and run at 30 significant digits internally. Real products may differ in fees, compounding conventions and rounding rules, so treat the result as a close estimate rather than a contractual figure.

Can I share a specific calculation with someone else?

Yes. Every value you enter updates the URL, so copying the address bar and sharing the link reopens the exact same calculation for whoever clicks it.