Debt Payoff Calculator
See how a fixed monthly payment pays down a debt over time, with total interest and the effect of paying extra.
Example values are shown — change any of them and the answer updates live.
BalanceAPR %Minimum payment
BalanceAPR %Minimum payment
$
NowDebt-free date
Debt-free date
1 year 8 months
20 months
$800 per month across 2 debts — extra money goes to the Avalanche strategy.
Total debt$13,000
Total interest$2,271
Total paid$15,271
Interest saved vs minimums$29,626
⚠ Debt 2: its minimum ($200) doesn't cover its monthly interest ($208) — the balance grows.
Compare scenarios
Avalanche
20months
Total interest: $2,271
Snowball
20months
Total interest: $2,869
Consolidated
20months
Total interest: $3,000
Minimum payments only
173 months
Payoff order
Debt 2 → Debt 1
Avalanche saves $597 in interest; snowball clears your first debt 11 months sooner.
How the strategies compare
Step 1 · Payoff order
avalanche: highest APR first · snowball: smallest balance first
Avalanche / Snowball
#2 → #1
Step 2 · Rolling freed-up payments
freed minimums roll into the next debt
Monthly budget for debts $800
20 months
Estimates under the stated assumptions, for illustration — not financial advice.