Debt Calculator
Enter your debts, their rates and an extra monthly amount to see how fast you can become debt-free.
- Free
- No sign-up
Enter at least one balance and rate to see your debt-free timeline.
Worked example
With these example inputs:
- Debt 1 balance$12,000
- APR19%
- Debt 2 balance$4,500
- APR27%
- Debt 3 balance$20,000
- APR7%
- Extra monthly payment$500
- Payoff strategysnowball
Time to debt-free: 4 yr 7 mo
- Total debt$36,500
- Total interest$7,830
- Total of payments$44,330
- Interest saved$30,271
Frequently asked questions
How does the debt payoff work?
Each debt accrues interest at its rate while you cover the minimums and direct the extra to one debt at a time. Avalanche targets the highest rate. Snowball targets the smallest balance.
Which strategy is better?
Avalanche saves the most interest mathematically, while snowball delivers quicker early wins that help motivation. The best choice is the one you will stick with to the end.