Conquering debt doesn’t have to feel overwhelming. Our Debt Payoff Calculator equips you with a practical, step-by-step plan to eliminate balances across credit cards, student loans, car loans, and more. Using the Debt Snowball Method, this tool helps you identify which debts to tackle first and how long it will take to pay them off, based on your unique inputs.
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Enter your loan balances, interest rates, and monthly payments, and the calculator will generate a customized debt payoff plan. It provides a breakdown of:
This tool simplifies your debt repayment journey.
Getting started with the calculator is quick and straightforward:
by name, balance, minimum monthly payment, and interest rate.
to see how additional funds shorten your debt timeline.
if you want to keep paying the same amount monthly and accelerate progress.
to view your personalized repayment plan.
You’ll see a full payoff timeline, interest savings, and a month-by-month breakdown.
The Debt Snowball Method is a behavioral repayment strategy that prioritizes your smallest balances first, giving you fast wins and motivation to keep going. Here’s the general approach:
This method is particularly effective for people who thrive on visible progress. Prefer to minimize interest? The calculator also lets you simulate the Debt Avalanche Method, which focuses on the highest interest rate first.
Our Debt Payoff Calculator lets you compare both methods so you can choose the best repayment strategy for your financial situation.
Let’s say you enter the following:
Using the Snowball Method, the tool would:
With the Fixed Total Payment option enabled, your total monthly debt payment stays the same, meaning every time you pay off a balance, the payment snowballs into your remaining debts, speeding up repayment.
If you’re working toward financial freedom, these calculators can help: