This calculator helps you plan how to pay off multiple debts using a consistent monthly budget. You enter each debt’s balance, APR (interest rate), and minimum monthly payment. Then you can add an extra amount you’re willing to pay each month on top of minimums.
The tool runs two common repayment strategies and shows a side-by-side comparison: how long it may take to become debt-free, the projected debt-free month, and the total interest paid. It also generates a month-by-month schedule so you can understand how payments and balances change over time.
A key feature is rollover. When one debt is fully paid, the minimum payment you used to send to it doesn’t disappear — it becomes available to pay down the remaining debts, which can noticeably speed up payoff.
What is the snowball method?
Snowball means you focus any extra money on the smallest balance first (while still paying minimums on everything else). The idea is to clear individual debts sooner, which can feel motivating and easier to stick with.
What is the avalanche method?
Avalanche means you focus extra money on the highest APR first (again, minimums on the rest). Because higher rates usually cost more over time, avalanche often reduces total interest, especially when rates vary a lot.