Debt Payoff Calculator
See how long it will take to become debt free using the snowball or avalanche method, and find the fastest path to financial freedom.
Payoff Strategy
Extra Monthly Payment
Even small extra payments can dramatically cut your payoff time
Your Debts
Payoff Estimate
Debt Free In
2y 2m
Payoff Order
Disclaimer: These results are estimates for informational purposes only and do not constitute financial advice. Always consult a qualified financial adviser before making financial decisions.
How the Debt Payoff Calculator Works
Month-by-month simulation
The calculator simulates your debt repayment month by month. Each month, interest is applied to each balance, then minimum payments are made on all debts, and your extra payment is directed to the priority debt.
Debt rollover
When a debt is fully paid off, its minimum payment is automatically rolled into the extra amount available for the next debt. This accelerating effect is what makes both the snowball and avalanche strategies so powerful.
Snowball vs Avalanche
The snowball targets smallest balances first for quick wins. The avalanche targets highest interest rates first to minimise total interest. The avalanche almost always saves more money, but both clear debt faster than minimums alone.
The power of extra payments
Even a small extra payment each month can cut months or years off your debt repayment. Try increasing the extra payment amount to see how dramatically it reduces your total interest paid.
Frequently Asked Questions
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