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Calcora

Debt

Debt Payoff Calculator

Estimate when you could be debt-free and how much interest you would pay across multiple debts.

Your debts

Enter each debt's current balance, APR, and minimum monthly payment from your latest statements.

  1. Debt 1
  2. Debt 2

How much extra can you put toward debt each month?

Your monthly debt budget appears here once every minimum payment is entered.

Private by design

Your debt information is calculated locally in your browser and is not sent to Calcora.

How this calculator works

  1. Enter your debts

    Add each debt's current balance, APR, and minimum monthly payment, plus any extra amount you can pay each month.

  2. Your monthly budget is set

    Your budget is every minimum payment plus the extra amount. You pay the same total each month until the last payment.

  3. Minimums first, then one focus debt

    Each month, every debt gets its minimum payment. The rest of the budget goes to one focus debt, chosen by the strategy.

  4. Paid-off payments roll over

    When a debt is paid off, its minimum payment joins the budget for the next debt, starting in the same month.

Snowball vs. avalanche

Both strategies pay every minimum and use the same monthly budget. They differ only in which debt gets the extra money first.

Avalanche

Highest APR first

Extra money goes to the debt with the highest interest rate. Because the most expensive balance shrinks first, this approach usually costs less interest overall.

Snowball

Smallest balance first

Extra money goes to the debt with the smallest balance. Individual debts are paid off sooner, which frees up their minimum payments earlier.

Assumptions

  • Interest is charged monthly at the APR divided by 12, on each debt's balance at the start of the month. Card issuers usually charge interest daily, so real interest can differ slightly.
  • Minimum payments stay fixed at the amounts you enter. Card minimums that shrink as the balance falls are not modeled.
  • Payments are made at the end of each month, starting next month. No new charges, fees, or rate changes are included.
  • When the APR is the same, avalanche focuses on the smaller balance first. When balances are the same, snowball focuses on the higher APR first.
  • Results are estimates for education, not financial advice.

How Calcora calculates

  • Every calculator explains the formula behind its result in plain language.
  • Calculators are designed to run in your browser, so your inputs are not sent to Calcora.
  • Results help you understand your options. They are not financial advice.
Read the methodology

Frequently asked questions

What is the difference between the snowball and avalanche methods?
Both pay every minimum each month and put the rest of the budget toward one focus debt. Avalanche focuses on the highest APR first; snowball focuses on the smallest balance first. The calculator shows both results side by side so you can compare the time and interest for your own debts.
How is my monthly debt budget calculated?
It is the sum of all your minimum payments plus your extra monthly payment. The calculator keeps that total the same every month, so when one debt is paid off, its minimum payment goes toward the next debt.
Why does the calculator say my debts will not be paid off?
If a debt's monthly interest is as large as, or larger than, the payment going toward it, its balance never goes down. The calculator names the debts that cause this and shows the monthly amount each would need to start shrinking.
Does this calculator store or send my information?
No. The calculation runs in your browser. The numbers you enter are not sent to Calcora and are not saved; they are cleared when you leave or reload the page.
Why might my real payoff date be different?
Lenders may charge interest daily, change your minimum payment as the balance falls, add fees, or change your rate. New purchases on a card also add to the balance. The calculator uses the fixed assumptions listed on this page.

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