What is the difference between the snowball and avalanche debt payoff methods?

The snowball method pays off debts from smallest to largest balance, providing quick wins for motivation. The avalanche method pays off debts from highest to lowest interest rate, typically saving more money on interest over time. Our free calculator compares both methods so you can choose what works best for you.

How accurate is this free debt payoff calculator?

Our calculator uses precise compound interest formulas with options for both daily compounding (common for credit cards) and monthly compounding (common for loans). It provides accurate projections based on your inputs, though actual results may vary based on payment timing and any APR changes.

Is my financial data saved securely?

Yes! All your data is stored locally on your device using browser storage. Nothing is sent to any server. Your financial information never leaves your computer, making this free tool completely private and secure.

What types of debt can I include in the calculator?

You can add any type of debt including credit cards, student loans, auto loans, mortgages, personal loans, medical debt, and more. The calculator includes typical APR ranges for each type to help guide your entries.

How do I know how much extra I can pay toward debt?

Use our built-in budget section to enter your monthly income and expenses. The calculator automatically determines your available extra payment amount and factors it into your debt payoff projections.

Free Debt Payoff Calculator - Snowball vs Avalanche Comparison

💰

Your Monthly Budget

ℹ️ Why Budget Matters

Understanding your income and expenses helps determine how much extra you can put toward debt each month. The more you can pay above minimums, the faster you'll be debt-free!

Monthly Take-Home Income

$

Essential Monthly Expenses (rent, food, utilities, etc.)

$

Budget Summary

Monthly Income $0

Essential Expenses $0

Minimum Debt Payments $0

Available for Extra Payments $0

➕

Add Your Debts

Debt Name

Debt Type

Credit Card: Typical APR range: 15% - 29%. Usually daily compounding.

Current Balance

$

APR (Interest Rate)

%

Minimum Payment

$

Interest Compounding

📋

Your Debts

No debts added yet

Add your first debt above to get started on your debt-free journey.

Name	Type	Balance	APR	Min. Payment	Compounding	Actions

⚖️

Snowball vs. Avalanche Comparison

💡 Which Strategy is Right for You?

Snowball: Pay smallest debts first for quick wins and motivation boosts.
Avalanche: Pay highest interest rates first to minimize total interest paid.

🔮

What-If Scenarios

See how extra payments can accelerate your debt-free journey.

One-Time Bonus Payment

$

Additional Monthly Payment

$

📊

Amortization Schedule

Select Strategy

Select a debt above to view its payment schedule.

🏆

Your Milestones

Celebrate every victory on your journey to becoming debt-free!

📈

Visualize Your Progress

⚙️

Debt Freedom Calculator

Your Monthly Budget

ℹ️ Why Budget Matters

Budget Summary

Add Your Debts

Your Debts

No debts added yet

Snowball vs. Avalanche Comparison

💡 Which Strategy is Right for You?

🎯 Your Projected Debt-Free Date

What-If Scenarios

📈 Your Accelerated Plan

Amortization Schedule

Your Milestones

Visualize Your Progress

Actions

Your Monthly Budget

ℹ️ Why Budget Matters

Budget Summary

Add Your Debts

Your Debts

No debts added yet

Snowball vs. Avalanche Comparison

💡 Which Strategy is Right for You?

🎯 Your Projected Debt-Free Date

What-If Scenarios

📈 Your Accelerated Plan

Amortization Schedule

Your Milestones

Visualize Your Progress

Actions

Edit Debt

Reset All Data?