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CalcTortoise

Debt Payoff Calculator

List your debts, add the extra you can pay each month, and find the quickest and cheapest way to become debt-free.

Written by the CalcTortoise editorial team · How we work

Credit card
Personal loan
Car loan

On top of all the minimum payments. When a debt is cleared, its payment goes to the next one.

Which debt to clear first

Debt-free in (avalanche)

2 years 3 months

Paying $300 extra each month, you are debt-free in 2 years 3 months and save $2,889 of interest compared with paying only the minimums. Here both methods cost the same.

Interest, avalanche
$3,027
Interest, snowball
$3,027
Interest, minimums only
$5,916
Time, minimums only
4 years 4 months

Illustration only, not investment, tax or legal advice.

  1. 1. Credit cardcleared in 1 year 1 month
  2. 2. Personal loancleared in 1 year 10 months
  3. 3. Car loancleared in 2 years 3 months
Total debt left over timeAvalancheMinimum payments only

Debt left over time

YearAvalancheSnowballMinimums only
Year 1$14,613$14,613$18,599
Year 2$2,796$2,796$11,485
Year 3$0$0$3,559
Year 4$0$0$572
Month 52$0$0$0

How to use this calculator

  1. Enter each debt’s balance, interest rate and minimum payment.
  2. Enter the extra you can pay each month.
  3. Choose avalanche or snowball and see the order in which debts are cleared.

Frequently asked questions

What is the avalanche method?

Paying extra towards the debt with the highest interest rate first, while paying the minimum on the rest. It costs the least interest: the example debts are cleared in 2 years 3 months with $3,027 of interest.

And the snowball method?

Clearing the smallest balance first. It usually costs a little more interest, but early wins help many people stick to the plan.

What does paying only the minimum cost?

On the example debts, 4 years 4 months and $5,916 of interest.

Sources and method

Standard compound-interest formulas, tested against worked examples. Nothing here depends on outside data; the rates you type in are your own assumptions.

No outside data is used. The numbers you type in are the only inputs.

Page and formula last reviewed . How we calculate · Editorial policy · Corrections and change log

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Last updated 10 October 2026. For information only — not financial advice. Check the final figures with your lender or bank.