Free Money Tool
Debt Payoff Calculator
See exactly when you’ll be debt-free and how much interest you’ll save with the snowball or avalanche method. Free, private, no signup.
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Debt Payoff Tracker
A ready-to-use Google Sheets planner with the snowball & avalanche methods built in. Track balances, watch your payoff date update live, and stay motivated to the finish.
Snowball vs avalanche: which pays off debt faster?
This free debt payoff calculator shows you two proven strategies side by side. The debt snowball pays off your smallest balance first for quick, motivating wins. The debt avalanche targets your highest interest rate first, which mathematically saves the most money.
Enter each debt’s balance, interest rate and minimum payment, add whatever extra you can throw at it every month, and the calculator instantly shows your debt-free date, the total interest you’ll pay, and how much the avalanche method could save you versus the snowball.
How does the extra payment work?
Every month you pay the minimum on every debt, then all your extra money goes to one target debt. When that debt is gone, its payment rolls over onto the next one, so your payoff accelerates over time. Even a small extra amount each month can cut years off your timeline.
Want to track it every month?
This tool gives you the plan; the Debt Payoff Tracker (Google Sheets) lets you log payments and watch your debt-free date move closer every single month.