maratoolDebt Payoff Calculator
List your debts, add an extra monthly budget, and compare the snowball and avalanche strategies: debt-free date, total interest, payoff order.
❄️ Snowball — smallest balance first
🏔️ Avalanche — highest APR first
What is Debt Payoff?
The Debt Payoff Calculator takes your full debt list — balances, APRs, minimum payments — plus whatever extra you can pay monthly, and simulates two classic strategies to the last dollar. Snowball attacks the smallest balance first for quick wins; avalanche attacks the highest APR first to minimize interest. You get the debt-free date, total interest, and payoff order for both, so the snowball-vs-avalanche debate becomes a number instead of an argument.
How to use
- List each debt with its balance, APR, and minimum payment.
- Enter any extra amount you can put toward debt each month.
- Compare snowball vs avalanche: debt-free date, total interest, and payoff order.
Frequently asked questions
What is the debt snowball method?
Pay minimums on everything and throw every spare dollar at the smallest balance. When it clears, roll its payment into the next smallest. Fast early wins keep motivation high.
What is the debt avalanche method?
Same rollover idea, but target the highest APR first. Mathematically optimal — it always minimizes total interest paid.
Which is better, snowball or avalanche?
Avalanche saves more interest; snowball clears the first debt sooner. This calculator shows both totals so you can see what the motivation of quick wins actually costs.
Is my data sent to a server?
No. All calculations happen in your browser.
Last updated
Powered by maratool