Debt Payoff Calculator
Calculate how long to pay off debt using Snowball or Avalanche methods. Compare strategies, track multiple debts, and see your debt-free date.
Your Debts
đĄ Avalanche (Highest Interest First): Pay off highest interest rate debt first. Saves the most money on interest over time.
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Get Out of Debt Faster
Our debt payoff calculator helps you create a strategic plan to eliminate debt. Compare the Snowball method (smallest balance first for quick wins) versus the Avalanche method (highest interest first for maximum savings) and find the best approach for your situation.
Understanding Debt Payoff Strategies
Debt payoff strategies help you systematically eliminate multiple debts. The Avalanche method targets highest-interest debt first, minimizing total interest paid. The Snowball method targets smallest balances first, providing psychological wins that keep you motivated.
Monthly Interest
Interest = Balance Ă (Annual Rate / 12)How to Use the Debt Payoff Calculator
Frequently Asked Questions
Avalanche saves more money on interest, but Snowball provides quick wins that keep you motivated. Choose Avalanche if you're disciplined, Snowball if you need psychological boosts.