Debt Payoff Calculator
Enter your debts, compare avalanche vs snowball strategies, and find your debt-free date. See how extra payments save you thousands.
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Enter Your Debts
Payoff Calculators by Debt Type
Credit Card Debt
15-28% APR
Student Loan Debt
4-8% (federal), 3-15% (private)
Car Loan
4-10% APR
Medical Debt
0% (payment plans) to 10%+ (if sent to collections)
Personal Loan
6-36% APR
Mortgage
5.5-7.5% (2025-2026 rates)
Payday Loan
300-500% effective APR
Buy Now Pay Later (BNPL)
0% (on-time) to 25-30% (late/deferred)
Avalanche vs Snowball: Which Method Is Best?
Avalanche Method
Pay minimums on everything, then put all extra money toward the debt with the highest interest rate.
- + Saves the most money in total interest
- + Mathematically optimal
- - Can feel slow if highest-rate debt is large
Snowball Method
Pay minimums on everything, then put all extra money toward the debt with the smallest balance.
- + Quick wins boost motivation
- + Fewer debts to track sooner
- - Costs more in total interest
How to Pay Off Debt Faster in 2026
The average American household carries $104,000 in debt. The two most popular strategies are the avalanche method (highest interest first) and the snowball method (smallest balance first). The avalanche saves more money; the snowball has higher completion rates.
Even $100 extra per month on $20,000 of credit card debt at 22% saves over $14,000 in interest. Use the calculator above to see the exact impact for your situation.