How to use Debt Payoff Calculator
- Add each debt with balance, APR, and minimum payment.
- Set your monthly budget and any extra payment.
- Review the payoff order and timeline.
- Adjust strategy inputs until the plan fits your budget.
Worked examples
Concrete numbers and cases you can check against the tool above.
Two cards, avalanche extra $100
Card A $4,000 at 22% APR, Card B $2,000 at 13%. Avalanche puts every extra dollar on A (higher APR) while you pay Bβs minimum. An extra $100/month typically cuts months and hundreds of dollars of interest vs minimums-only. Snowball (smallest balance first) can feel better but usually costs more interest.
When to use Debt Payoff Calculator
Multiple debts compete for the same monthly dollars. Modeling avalanche payoff with extra payments clarifies timelines and interest savings.
Common use cases
- Prioritize high-APR cards while paying minimums elsewhere.
- Test what an extra $100/month does to freedom day.
- Plan a shrinking budget if income is temporary.
- Visualize payoff order before consolidating loans.
Inputs and outputs
- Debt balances, APRs, and monthly payment amounts
Privacy
This tool runs entirely in your browser. Your data never leaves your device β nothing is uploaded to our servers.
Frequently asked questions
- What is the avalanche method?
- Avalanche pays minimums on all debts and puts extra money toward the highest interest rate first to reduce interest cost.
- Is this financial advice?
- No. It is a planning calculator. Consider a trusted advisor for personal decisions.
- Do you store debt details?
- No. Everything stays local.