How this debt payoff calculator works
The calculator pays the minimum on every debt, then sends your extra monthly payment to one target debt at a time. Avalanche targets the highest interest rate first. Snowball targets the smallest balance first.
Avalanche usually saves more interest. Snowball can feel more motivating because smaller balances disappear earlier. The best method is the one you can keep following.
When to use avalanche vs snowball
Use avalanche if your main goal is paying the least total interest. It usually wins mathematically, especially when one debt has a much higher APR than the others.
Use snowball if momentum keeps you consistent. Closing one balance early can improve motivation and make it easier to stay on track month after month.
Simple 5-step payoff plan
1) List every debt with balance, APR, and minimum payment.
2) Build a small emergency buffer so new expenses do not create fresh debt.
3) Set one fixed extra-payment amount you can sustain every month.
4) Auto-pay minimums and direct extra money to one target debt.
5) Every 30 days, review progress and increase extra payment when possible.
Mistakes that slow debt payoff
Paying extra inconsistently, using cards again while paying down balances, and skipping a review schedule are the most common reasons payoff plans break.
Even a small recurring extra payment can materially shorten your debt-free date when it is applied consistently.