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Debt Payoff Calculator

Escape the interest trap. Compare the Snowball and Avalanche methods to find your mathematically fastest path to financial freedom.

List Your Debts

The "Avalanche" method applies this to the highest interest rate debt first.

Debt-Free Projection
2026
Full Payoff in0 Months
Total Interest Paid$0

Total Debt

$0

Monthly Budget

$0

This tool is useful for Credit Card Users, Loan Borrowers, and Debt Counselors (and for everyone else who wants to escape the interest trap and find the fastest path to zero debt).

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Escaping the Interest Trap: Strategic Debt Payoff

Debt is more than just a balance; it's a drain on your future wealth. Every dollar paid in interest is a dollar that isn't working for you through compound interest. Our Debt Payoff Calculator helps you visualize your journey to financial freedom and compare the most effective strategies to get there.

The Federal Trade Commission (FTC) emphasizes that having a clear, written plan is the single most important step in successful debt reduction.

Snowball vs. Avalanche: Which is Best?

There are two primary methods for attacking multiple debts. Our calculator allows you to model both to see which fits your personality and financial situation.

The Debt Avalanche

Mathematically Optimal

Focus on paying off the debt with the highest interest rate first. This strategy minimizes the total interest you pay over time and results in the fastest possible payoff mathematically.

The Debt Snowball

Psychologically Rewarding

Focus on paying off the debt with the smallest balance first. This provides quick "wins" that keep you motivated, even if you pay slightly more interest in the long run.

Critical Debt Metrics

  • Total Interest Saved: The difference between paying just the minimums and following a structured payoff plan.
  • Debt-Free Date: The exact month and year you will cross the finish line.
  • Monthly Surplus: The extra amount you can afford to put toward your debt principal.

Handling Credit Cards

Credit cards often have high, variable interest rates. According to the CFPB, prioritizing these high-interest obligations can prevent your debt from spiraling out of control due to negative amortization.

Master Tip: The "Rule of 0% Balance Transfers"

If you have good credit, you may be able to transfer your high-interest debt to a 0% APR balance transfer card. This effectively "stops the clock" on interest for 12-18 months, allowing every penny of your payment to go directly toward the principal balance.