Tools Debt Payoff Planner

Free tool · Debt Payoff Planner

When will you be debt-free?

List your debts and what you can pay each month. The planner runs two proven methods month by month: avalanche (highest interest rate first) and snowball (smallest balance first). It shows your debt-free date, the total interest, and the order to pay them off.

Step 1 · Your debts

Debt 1
Debt 2
Debt 3

Step 2 · Your extra payment

On top of all the minimums. 0 still works: paid-off minimums roll into the next debt.

Private by design: everything is calculated in your browser. Nothing you type is saved or sent.

How this planner works

Each month: add interest, pay every minimum, send the rest to the debt at the top of your order

You set one monthly budget: all your minimum payments plus any extra. When a debt is paid off, its minimum stays in the budget and rolls into the next debt. This rollover is what makes both methods faster than paying minimums alone.

  • Avalanche targets the highest interest rate first. It always costs the least interest.
  • Snowball targets the smallest balance first. You clear whole debts sooner, and those early wins keep many people going.

Interest is charged monthly at the APR ÷ 12. Real statements vary a little with billing cycles and fees, and the plan assumes no new borrowing.

Words you’ll see

APR
Annual percentage rate: the yearly cost of borrowing. Card statements list it; monthly interest is roughly APR ÷ 12.
Minimum payment
The least you must pay each month to stay current. On high-rate debt, paying only this can take decades.
Avalanche method
Paying extra toward the highest-rate debt first. Mathematically the cheapest.
Snowball method
Paying extra toward the smallest balance first, for quick wins that build momentum.
Rollover
Moving a paid-off debt’s payment to the next debt instead of spending it.