Debt Freedom
Debt Payoff Calculator
Create a debt payoff plan. Compare debt snowball vs avalanche methods and see when you'll be debt-free.
Your Debts
Enter each debt with balance, rate, and minimum payment
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Payoff Summary
Debt Free In
4y 8m
56 months total
Total Debt
$48,500
Interest Paid
$8,932
Monthly Payment$1,030
Payoff Order (avalanche)
✓Credit CardMonth 28
Debt Payoff Strategies
Debt Avalanche
Pay highest interest rate first
Mathematically optimal - saves the most money in interest. Best for those motivated by numbers.
- Saves the most money
- May take longer for first payoff
- Requires discipline
Debt Snowball
Pay smallest balance first
Psychologically motivating - quick wins build momentum. Best for those who need encouragement.
- Quick early wins
- Builds momentum
- May pay more interest