Debt payoff calculator
Compare the avalanche and snowball methods across all your debts and see what each costs.
Minimum payments are held at the amount you enter rather than falling as balances fall, and no new spending is added to any debt.
How this is worked out
Each month: interest = balance × APR ÷ 12; minimums are paid on every debt; the rest of the budget goes to one target debt.What this assumes
A calculator is only as good as what it leaves out. These are the assumptions built into the result above.
- Minimum payments stay at the amount you enter rather than falling as balances fall.
- Interest is charged monthly on the outstanding balance.
- No new spending is added to any of the debts.
- Both strategies are run on your figures so you can see the difference rather than take a rule of thumb.
Educational information only. This page explains how something works in the United States. It is not financial advice and does not take account of your circumstances. Rates, fees and eligibility change without notice — check the provider’s own terms before you act.
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Guides that go with this tool
Getting Out of Credit Card Debt
A worked sequence for clearing card balances: stop the growth, know the real numbers, pick an order, and consider whether cheaper credit is available.
Debt Snowball vs Avalanche: Which Should You Use?
One method costs less. The other is easier to stick to. Here is how to work out which difference is bigger in your situation.