Free Debt Payoff Calculator
Compare debt snowball and avalanche strategies to eliminate your debts faster. Calculate payment schedules, interest savings, and payoff timelines for multiple debts.
Debt Snowball Results
Payoff Time:8 years, 4 months
Total Interest:$10,031
Total Paid:$33,031
Monthly Payment:$525.00
Strategy Comparison
Snowball Payoff Time:8 years, 4 months
Avalanche Payoff Time:8 years, 4 months
Savings with Avalanche:$0
Time Difference:Same timeline
Debt Payoff Progress - Debt Snowball
Total Debt
Credit Card 1
Credit Card 2
Car Loan
Payment Schedule (First 24 Months)
Legend:⭐ = Debt receiving extra paymentGreen = Paid off
| Month | Total Payment | Total Interest | Credit Card 1 Balance | Credit Card 2 Balance | Car Loan Balance | Total Remaining |
|---|---|---|---|---|---|---|
| 1 | 525 | 224 | 4,979 | 2,982 | 14,737 | 22,699 |
| 2 | 525 | 222 | 4,958 | 2,965 | 14,473 | 22,396 |
| 3 | 525 | 220 | 4,936 | 2,946 | 14,208 | 22,090 |
| 4 | 525 | 217 | 4,914 | 2,928 | 13,940 | 21,783 |
| 5 | 525 | 215 | 4,892 | 2,909 | 13,671 | 21,473 |
| 6 | 525 | 213 | 4,870 | 2,890 | 13,401 | 21,160 |
| 7 | 525 | 210 | 4,847 | 2,870 | 13,129 | 20,846 |
| 8 | 525 | 208 | 4,823 | 2,850 | 12,856 | 20,529 |
| 9 | 525 | 206 | 4,800 | 2,830 | 12,581 | 20,210 |
| 10 | 525 | 203 | 4,776 | 2,809 | 12,304 | 19,888 |
| 11 | 525 | 201 | 4,751 | 2,788 | 12,025 | 19,564 |
| 12 | 525 | 199 | 4,727 | 2,766 | 11,746 | 19,238 |
| 13 | 525 | 196 | 4,701 | 2,744 | 11,464 | 18,909 |
| 14 | 525 | 194 | 4,676 | 2,722 | 11,181 | 18,578 |
| 15 | 525 | 191 | 4,650 | 2,699 | 10,896 | 18,244 |
| 16 | 525 | 189 | 4,623 | 2,675 | 10,609 | 17,908 |
| 17 | 525 | 186 | 4,596 | 2,652 | 10,321 | 17,569 |
| 18 | 525 | 184 | 4,569 | 2,628 | 10,031 | 17,228 |
| 19 | 525 | 181 | 4,541 | 2,603 | 9,740 | 16,884 |
| 20 | 525 | 178 | 4,513 | 2,578 | 9,446 | 16,538 |
| 21 | 525 | 176 | 4,485 | 2,552 | 9,151 | 16,188 |
| 22 | 525 | 173 | 4,456 | 2,526 | 8,855 | 15,837 |
| 23 | 525 | 170 | 4,426 | 2,499 | 8,556 | 15,482 |
| 24 | 525 | 168 | 4,396 | 2,472 | 8,256 | 15,125 |
Tips
Start with the debt snowball (smallest balance) if you need motivation.
Choose debt avalanche (highest interest) to save the most money.
Consider consolidating high-interest debts if you qualify for a lower rate.
Make minimum payments on all debts while focusing extra payments on your target debt.
Avoid taking on new debt while paying off existing balances.
Use windfalls like tax refunds or bonuses to accelerate debt payoff.
FAQ
What is the difference between debt snowball and avalanche?
Which debt payoff strategy is better?