Debt feels overwhelming when you’re staring at the total and wondering how you’ll ever get through it. This calculator breaks that giant number into something manageable. Add each of your debts, choose a payoff strategy, and see exactly when you’ll be free of every single one of them.

How to Use This Calculator

Step 1: Enter each debt you currently owe. Include the name (so you can tell them apart), the current balance, and the annual interest rate. You can find the rate on your most recent statement.

Step 2: Add more debts using the button if you have more than two. Include everything: credit cards, car loans, student loans, personal loans, medical debt.

Step 3: Choose your strategy. Snowball tackles the smallest balance first for quick wins that keep you motivated. Avalanche attacks the highest interest rate first to save the most money mathematically.

Step 4: Enter the total amount you can put toward all debt payments each month combined. The more you can throw at it, the faster you’ll be free.

Snowball vs Avalanche: Which Method Is Better

This is one of the most debated questions in personal finance, and the honest answer is: it depends on your personality.

The debt snowball method has you list all your debts from smallest balance to largest. You make minimum payments on everything except the smallest one, which gets every extra dollar you can spare. Once that’s paid off, you roll its payment into the next smallest debt. The wins come quickly, and that momentum keeps a lot of people going when they’d otherwise give up.

The debt avalanche method ranks debts by interest rate from highest to lowest. Mathematically, this saves you the most in total interest paid. But the first payoff might take longer, which can be discouraging if you need to see progress to stay motivated.

The truth nobody likes to hear? The best method is whichever one you’ll actually stick with. A mathematically optimal plan that you abandon after three months is worth less than a slightly less efficient plan you follow all the way to zero.

Why Paying Minimums Keeps You Stuck

Credit card minimum payments are designed to keep you in debt as long as possible. A $5,000 credit card balance at 20% interest with a $100 minimum payment takes over 9 years to pay off and costs you more than $4,300 in interest alone. You’d end up paying nearly double the original balance.

Even adding an extra $50 or $100 a month above your minimums makes a dramatic difference. That’s not feel good advice. Run the numbers in the calculator above and see for yourself what a small increase does to your payoff date.

Practical Tips for Paying Off Debt Faster

Sell something you don’t need. One lump sum payment on your smallest debt can knock it out entirely, giving you instant momentum.

Pick up a temporary side gig. Even a few months of extra income directed entirely at debt can shave years off your timeline.

Stop adding new debt. This seems obvious but it’s the most common mistake. Paying off a credit card while still using it is like bailing water out of a boat with a hole in it.

Automate your payments. Set up auto pay for the amount you committed to. Willpower fades. Automation doesn’t.