Compare Your Debt Payoff Options
Add your balances, interest rates, and monthly payments to estimate your debt-free date. Compare your current payment plan with the debt snowball and debt avalanche methods.
Add Your Debts
Enter the current balance, APR, and monthly payment for each debt.
You may add up to 10 debts. Avoid entering account numbers or other identifying information.
Set Your Payoff Budget
Add any extra amount you expect to pay beyond your regular monthly payments.
Enter 0 if you do not plan to make an additional payment.
This month is used to estimate payoff dates.
Currency selection changes the display only. It does not convert values.
Review the Estimate
The calculator compares your current payments with snowball and avalanche payoff strategies.
Calculator assumptions
- Interest is estimated monthly using the APR you enter.
- Interest rates and entered payments remain unchanged.
- Payments are made monthly and on time.
- No new purchases, borrowing, fees, or penalties are added.
- Snowball and avalanche plans roll cleared payments into the next target debt.
- Creditor-specific interest and payment-allocation rules are not modeled.
Results are estimates based on fixed rates, fixed payments, and the information you enter. Actual creditor calculations may differ.
Debt Payoff Comparison
Review how the three payoff scenarios compare.
Current Payment Plan
Uses the monthly payments entered without rolling cleared payments into another debt.
Debt Snowball
Directs extra money toward the smallest balance, then rolls the cleared payment into the next debt.
Debt Avalanche
Directs extra money toward the highest APR, then rolls the cleared payment into the next debt.
Estimated Payoff Order
View the order and estimated payoff date for each strategy.
| Order | Debt | Estimated payoff | Estimated interest |
|---|
Interest is estimated monthly using the entered APR. Results may differ from creditor statements that calculate interest daily or apply payments and fees differently.
PennyRoute Editorial creates beginner-friendly guides on budgeting, saving, and everyday money habits. Our goal is to make personal finance easier to understand with clear explanations, realistic examples, and practical steps.
