Debt Payoff Calculator
Debt Payoff Strategy Calculator works out Months to debt free and Time to debt free from Debt balances, Annual interest rates and Minimum payments. The default figures on this page give time to debt free of 2 years 4 months; change any entry and the result, the working and the sources update together.
Your figures
Updates as you typeHow this is worked out
5 steps
- 3 debts totalling 14700.
- Minimums total 275, leaving 325 of surplus each month.
- The avalanche strategy directs that surplus at the highest interest rate first.
- Debts clear in the order: Debt 1, Debt 2, Debt 3.
- Debt free in 2 years 4 months having paid 1631.7 in interest.
Order debts are clearedtable
Interest and payoff month by debttable
| name | interestPaid | payoffMonth |
|---|---|---|
| Debt 1 | 52.51 | 4 |
| Debt 2 | 650.74 | 15 |
| Debt 3 | 928.45 | 28 |
Strategy comparisontable
| strategy | months | totalInterest | order |
|---|---|---|---|
| avalanche | 28 | 1,631.7 | Debt 1 then Debt 2 then Debt 3 |
| snowball | 28 | 1,631.7 | Debt 1 then Debt 2 then Debt 3 |
| proportional | 29 | 2,158.58 | Debt 1 then Debt 2 then Debt 3 |
Its 4 worked examples are re-run on every release, last on 15 September 2026. What changed
Sources and references
3 sources
Keep this result
Save it, change one figure, then compare the two
The calculation stays free. Save this scenario, adjust one assumption, save that too, and put them side by side to see exactly what the change costs you. A free account keeps 5 scenarios and 2 comparisons; Personal makes both unlimited and adds exports and private links. Nothing is saved unless you press Save.
What the Debt Payoff Strategy Calculator calculates
Compares the snowball, avalanche and proportional strategies across several debts, showing payoff order, total interest and time to debt freedom.
How to use this Debt Payoff Strategy Calculator
Enter Debt balances, Annual interest rates, Minimum payments and Total monthly budget for debt. Months to debt free updates as you type, and “Use a worked example” loads checked figures you can adjust. Change one figure at a time to see what drives the result.
How the result is worked out
Open “How this is worked out” beside the result for the step-by-step calculation behind Months to debt free, Time to debt free and Total interest paid.
The method follows Consumer Financial Protection Bureau, credit card minimum payment disclosures (12 CFR 1026.7(b)(12)), Standard daily periodic rate practice: APR / 12 applied to the statement balance each cycle and Debt snowball orders by smallest balance first; debt avalanche orders by highest interest rate first.
Avalanche clears the highest rate first example
With Debt balances: 1000,5000, Annual interest rates: 20,10, Minimum payments: 25,100, Total monthly budget for debt: 400, the calculator returns Order debts are cleared: see result table. This example is checked against an independent source in the test suite.
What you can compare
Change one input at a time to see how it affects Months to debt free, Time to debt free and Total interest paid. The inputs you can vary are Debt balances, Annual interest rates, Minimum payments, Total monthly budget for debt, Strategy and Compare all three strategies.
Results are general information, not financial, tax, legal, medical or engineering advice. Check any decision that matters with a qualified professional.
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Frequently asked questions
How to pay off $30,000 in debt in a year?
Compares the snowball, avalanche and proportional strategies across several debts, showing payoff order, total interest and time to debt freedom. Open “How this is worked out” beside the result to see each step for your own figures.
How fast can I pay off $20,000 in debt?
It needs Debt balances, Annual interest rates, Minimum payments, Total monthly budget for debt, Strategy and Compare all three strategies. Nothing else is required, and the figures stay in your browser.
Is there a free debt payoff calculator available?
The calculation is free and does not require an account. An account is only needed for optional features such as saving, comparing, exporting, or sharing supported scenarios.
How to pay off $10,000 credit card debt in 6 months?
The result gives Months to debt free, Time to debt free, Total interest paid, Total paid, Order debts are cleared and Interest and payoff month by debt, each labelled with its unit so the figure can be read on its own.
What information do I need for the Debt Payoff Strategy Calculator?
You need Debt balances, Annual interest rates, Minimum payments, Total monthly budget for debt, Strategy and Compare all three strategies. The page opens with default figures that give time to debt free of 2 years 4 months, so you can see the scale before entering your own.
What does this Debt Payoff Strategy Calculator show?
It shows Months to debt free, Time to debt free, Total interest paid, Total paid, Order debts are cleared, Interest and payoff month by debt, Strategy comparison and Lowest total interest, with the working and any warnings for your entries.