Enter what you owe and what you can pay. You will see your exact debt-free date, what the interest really costs you, and the month-by-month schedule to get there.
What you owe
$19,450 total
Replace the example rows below with your own debts. All three figures are printed on your statement.
Where do I find these numbers?
Debt
Any name you will recognise — “Visa”, “Store card”, “Car”. It only labels the row.
Balance
What you still owe today, not what you originally borrowed. On a statement it is the current or statement balance.
APR %
The yearly interest rate, near the interest charges on your statement. Cards often list several — use the purchase APR. Type 22.9, not 0.229.
Minimum
The smallest payment your lender will accept this month, shown as minimum payment due. On a loan it is your fixed monthly instalment.
DebtBalanceAPR %Minimum
On top of your $520 of minimums. This one number does most of the work.
$/ month
If nothing changes
Nov 2032
6 years 4 months of minimum payments
Interest handed over
$8,425
Adding $200 a month
Mar 2029
2 years 8 months and you are done
Interest handed over
$3,380
$5,045 saved·3 years 8 months soonerThat is what the extra $200 a month is worth to you.
$0$4,863$9,725$14,588$19,450
nowyr 1yr 2yr 3yr 4yr 5yr 6
Your snowball planMinimum payments onlyDebt by debt, and what to pay3 debts, in the order you clear them
Debt
Cleared in
Interest
Total paid
What to pay
1Store card
Apr 20279 months
$192
$2,042
Pay $255.00 a month through month 8, then $2.31 in month 9 to finish.
2Visa card
Aug 20282 years 1 month
$1,985
$8,185
Pay $155.00 a month through month 8, then $407.69 in month 9, then $410.00 through month 24, then $387.42 in month 25 to finish.
3Car loan
Mar 20292 years 8 months
$1,203
$12,603
Pay $310.00 a month through month 24, then $332.58 in month 25, then $720.00 through month 31, then $510.06 in month 32 to finish.
Month 1 is this month. Each time a debt clears, its payment moves to the next one — which is why the amounts in the last column go up while your monthly total stays the same.
Snowball vs. avalancheBoth cost the same here
Method
Debt-free
Interest
snowball
Mar 2029
$3,380
avalanche
Mar 2029
$3,380
With these balances both methods cost the same, so pick whichever order you will stick with.
Month-by-month scheduleAll 32 payments, printable
Month
Payment
Interest
Balance left
1. Aug 2026
$720.00
$220.73
$18,950.73
2. Sep 2026
$720.00
$213.90
$18,444.63
3. Oct 2026
$720.00
$206.93
$17,931.56
4. Nov 2026
$720.00
$199.85
$17,411.41
5. Dec 2026
$720.00
$192.63
$16,884.04
6. Jan 2027
$720.00
$185.27
$16,349.31
7. Feb 2027
$720.00
$177.77
$15,807.08
8. Mar 2027
$720.00
$170.14
$15,257.22
9. Apr 2027🎉 Store card paid off
$720.00
$162.35
$14,699.57
10. May 2027
$720.00
$155.27
$14,134.84
11. Jun 2027
$720.00
$148.09
$13,562.93
12. Jul 2027
$720.00
$140.78
$12,983.71
How to use this calculator
Start by listing every debt you carry a balance on — credit cards, store cards, car loans, personal loans, student loans. For each one you need three numbers, and all three are printed on your statement: the current balance, the interest rate (APR), and the minimum payment your lender requires.
Then enter the extra amount you can put toward debt each month above those minimums. This single number does most of the work. Minimum payments are set so that clearing the balance takes as long as possible — on a typical credit card they can stretch a few thousand dollars into decades of payments. Almost any extra amount, paid consistently, collapses that timeline.
Snowball or avalanche?
Both methods pay the minimum on everything and put the extra toward one target debt. They differ only in which debt goes first.
The snowball attacks the smallest balance first. You clear a whole debt quickly, that debt’s payment joins your extra money, and the next one falls faster. The avalanche attacks the highest interest rate first, which is always the mathematically cheapest route.
The calculator above shows both, so you can see the real trade-off rather than argue about it in the abstract. For most people the difference is smaller than they expect — and a plan you finish beats an optimal plan you abandon.
Common questions
What is the debt snowball method?
You pay the minimum on every debt, then throw every spare dollar at the smallest balance. When it clears, its payment rolls onto the next-smallest debt, so the amount attacking your debt grows like a snowball. It costs slightly more in interest than the avalanche, but the early wins are why most people stick with it.
What is the debt avalanche method?
Same idea, different order: your spare money goes to the debt with the highest interest rate first, regardless of size. This always costs the least in total interest. The catch is that a large high-rate debt can take many months to clear, and some people lose momentum before the first win arrives.
Which method should I choose?
Run both above and look at the gap. If the avalanche saves you only a few hundred dollars, take the snowball and the motivation that comes with it. If the gap is large, the avalanche is worth the patience.
How is the interest calculated?
Each month your balance is charged one twelfth of its annual rate, then your payment is applied. Your card issuer may use average daily balance instead, so real statements can differ by a small amount.
Does this calculator store my information?
No. Every calculation runs in your browser. Nothing you type is sent to a server, saved, or shared.