Debt Payoff Planner

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List your debts, add any extra you can pay each month, and compare how the snowball and avalanche methods clear them.

Your debts

$
Your debt-free plan

SnowballSaves the most

Smallest balance first

Time to debt-free-
Total interest-
Total paid-
Debt-free date-

AvalancheSaves the most

Highest interest first

Time to debt-free-
Total interest-
Total paid-
Debt-free date-

Payoff order (avalanche)

    Avalanche
    Snowball

    Debt details

    Debt Balance APR Min. payment Cleared (avalanche) Cleared (snowball)
    Note: Estimates use a fixed interest rate and assume on-time payments. Real balances vary with rate changes, fees, and new spending. This is education, not financial advice.
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    About This Tool

    The Debt Payoff Planner shows how the order you attack your debts changes how fast — and how cheaply — you become debt-free. It models both popular methods at once: the snowball (smallest balance first) for motivation, and the avalanche (highest rate first) for the lowest total interest. You always pay the minimum on every debt; the planner directs your extra payment, plus every minimum freed up as debts clear, onto the current target.

    Snowball vs. avalanche

    The snowball method, popularized by author Dave Ramsey, pays the smallest balance first regardless of rate — clearing whole debts quickly for psychological momentum. The avalanche method pays the highest interest rate first, which mathematically minimizes the total interest you pay. Avalanche is never more expensive than snowball, but snowball's early wins help many people stick with the plan. The right choice is the one you will actually follow.

    Sources: CFPB · New York Fed

    How to Use

    1. Add each debt's balance, interest rate, and minimum payment.
    2. Enter any extra you can put toward debt each month.
    3. Compare the snowball and avalanche results and pick your plan.

    How to Use

    1. Add each debt's balance, interest rate, and minimum payment.
    2. Enter any extra you can put toward debt each month.
    3. Compare the snowball and avalanche results and pick your plan.

    Methodology

    Each month, interest accrues on every debt at its rate ÷ 12. The planner pays the minimum on each, then directs all remaining money — your extra payment plus any minimums freed by cleared debts — to the target debt (smallest balance for snowball, highest rate for avalanche). This "rolling" of payments is what accelerates payoff over time. Figures use the standard credit-card interest method described by the CFPB and Federal Reserve.

    Sources: CFPB · Federal Reserve G.19

    Understanding Your Results

    Both methods reach the same debt-free date in many cases — the difference shows up in total interest. When the avalanche saves a meaningful amount, it is marked as saving the most. If the two are close, the snowball's quick first win may be worth more to you than a small interest saving. Use the payoff-order list to see which debt you would clear first under the method you choose.

    Practical Examples

    Say you owe $1,200 on a store card at 24.99%, $5,400 on a credit card at 19.99%, and $8,800 on a car loan at 6.5%, paying $385 in minimums plus $250 extra. Snowball clears the store card first (smallest balance), then the credit card, then the car loan. Avalanche clears the store card first too (it also has the highest rate here), then the credit card, then the car loan — and pays less total interest along the way.

    Tips for paying off debt faster

    • Always pay at least the minimum on every debt to avoid late fees and credit damage. • Put any windfall — a bonus, tax refund, or raise — straight onto your target debt. • Pause new borrowing while you pay down balances, or the plan resets. • Ask issuers for a lower rate; even a small cut speeds up the avalanche. • Re-run the plan whenever a balance, rate, or your budget changes.

    Sources

    All calculations are performed locally in your browser. No data is sent to any server.

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    Frequently Asked Questions
    Should I choose a nominal or effective interest rate?
    It depends on how your lender quotes the rate. In the US, credit-card and loan APRs are nominal, so the planner divides them by 12 to get the monthly rate. In the EU, the advertised APRC (called TAEG, TAE or Effektiver Jahreszins) and the UK's representative APR are effective annual rates that already include compounding, so the planner converts them with a compounding formula. The tool defaults this from your region, but you can change it; the difference is small at typical rates and grows at high APRs.
    What's the difference between the snowball and avalanche methods?
    Both make minimum payments on every debt and put extra money toward one target debt. The snowball method targets the smallest balance first for quick motivational wins; the avalanche method targets the highest interest rate first to minimize the total interest paid. Avalanche is never more expensive, but many people stick with snowball more easily.
    Which method should I choose?
    If the avalanche saves a meaningful amount of interest and you are disciplined, choose it. If you need early wins to stay motivated, the snowball's quick first payoff may be worth a small extra cost. The planner shows both so you can decide — and the best plan is the one you will actually follow to the end.
    What is the extra monthly payment?
    It's any amount you can pay above the combined minimums. The planner always pays each debt's minimum, then adds your extra to the target debt. As each debt is cleared, its freed-up minimum also rolls onto the next target — so your effective payment grows over time even if the extra stays the same.
    What kinds of debt can I add?
    Any debt with a balance, an interest rate, and a minimum payment — credit cards, store cards, personal loans, car loans, medical debt, or student loans. Enter each one as a separate row. For debts with a fixed term such as a car loan, use its required monthly payment as the minimum.
    Why won't my plan calculate?
    The most common reason is that your total monthly payment doesn't cover the monthly interest on your debts, so the balances would never fall. Increase a minimum payment or add an extra amount until the total beats the interest. Also check every debt has a balance, a rate between 0 and 100%, and a minimum above zero.
    Is my financial data kept private?
    Yes. Every calculation runs entirely in your browser. Your balances, rates, and payments are never sent to any server, no account is required, and nothing is stored unless you copy a shareable link yourself.