Debt Payoff Calculator
Calculate how long it will take to pay off your debt and how much interest you will pay.
Payoff Time
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Total Interest Paid
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Total Amount Paid
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Payoff Date
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Debt Payoff Strategies
| Method | Strategy | Best For |
|---|---|---|
| Avalanche | Pay highest interest rate first | Saving the most money |
| Snowball | Pay smallest balance first | Motivation and quick wins |
Frequently Asked Questions
How much faster does extra payment help?
Even small extra payments can significantly reduce payoff time and total interest. For example, paying an extra $50/month on a $10,000 balance at 18% APR can save you months and hundreds in interest.
Should I use avalanche or snowball?
The avalanche method saves the most money mathematically. However, the snowball method provides psychological wins by eliminating smaller debts quickly, which can help maintain motivation.