Debt Payoff Calculator

Snowball vs. Avalanche — which strategy frees you faster?

What is this? Two proven strategies exist for paying off multiple debts. Snowball (pay smallest balance first) gives quick wins that build motivation. Avalanche (pay highest interest first) saves the most money mathematically. This calculator compares both — and shows exactly how much extra payments help.

The math: Paying $200 extra/month on a $10K balance at 22% APR cuts 6 years off and saves $4,800 in interest vs. minimum payments.

Who it's for: Anyone with multiple debts trying to create a payoff strategy.
Monthly Payment Budget
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Your Debts
Payoff Comparison
Total Debt
Payoff Date
Total Interest Paid
vs. Min Payments Only
interest saved
Time Saved
Months to Freedom
Payoff Order
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FTC Disclosure: Some links on this page are sponsored affiliate links. We may earn a commission if you click through or apply through SoFi, Betterment, eToro, or ProjectionLab, at no extra cost to you. This is an advertising-supported site. MoneyBot is not a licensed financial advisor. This page is for informational purposes only and does not constitute financial advice.

Results are estimates. Actual payoff depends on exact due dates, statement closing dates, and lender behavior. Consult a financial counselor for debt management plans.

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