Debt Payoff Calculator

Avalanche (highest APR first) minimizes total interest and is mathematically optimal — with $48,000 across credit card (22.99%), car (6.5%), and student loan (5%), avalanche typically saves $1,000–3,000 more than snowball with $300/month extra. Snowball (smallest balance first) gives quicker wins and helps some people stay motivated. Use this calculator to compare both with your actual debts.

It depends on your balances, APRs, and extra payment. With $48,000 in total debt and $300/month extra, both avalanche and snowball save thousands in interest and cut years off your debt-free date compared to minimum payments only. High-APR debt (e.g. credit cards at 22–24%) costs the most — targeting it first with extra payments usually saves the most. Enter your debts in the calculator to see exact interest saved.

For the lowest total interest: pay minimums on all debts and put every extra dollar toward the debt with the highest APR (avalanche). For psychological momentum: pay off the smallest balance first, then roll that payment to the next (snowball). This calculator shows the exact order for both strategies and the interest difference so you can choose.

A $10,000 balance at 22.99% APR with a $250 minimum and $300 extra ($550 total) can be paid off in roughly 2–3 years instead of 5+ with minimum only — saving thousands in interest. Exact time depends on your balance, rate, minimum, and extra amount. Add your card to the calculator to see your debt-free date and total interest.

Yes. Snowball works by freeing up minimum payments as each debt is eliminated and applying that cash to the next debt, creating a cascading effect. It often pays off debt faster than minimum-only by hundreds or thousands of dollars. Avalanche usually saves slightly more in interest, but both strategies are far better than paying only minimums. Run your numbers in the calculator to see the difference.