Debt Payoff Timeline Calculator
This calculator helps you visualize your journey to debt freedom by comparing different repayment strategies. Enter your debts below to see when you’ll be debt-free using either the “Avalanche Method” (paying highest interest first) or the “Snowball Method” (paying smallest balance first).
Enter Your Debts
| Debt Name | Balance ($) | Interest Rate (%) | Min. Payment ($) | Actions |
|---|---|---|---|---|
This amount will be added to your minimum payments and directed toward your highest priority debt based on the selected strategy.
Important Notes:
- This calculator provides estimates based on the information you provide. Actual results may vary based on changes in interest rates, payment amounts, or additional charges.
- The calculator assumes fixed interest rates and that you’ll make consistent monthly payments throughout the payoff period.
- Extra payments are applied to one debt at a time, based on the selected strategy (highest interest first for Avalanche, lowest balance first for Snowball).
- This calculator does not account for potential fees, penalties, or changes in minimum payments that may occur over time.
- Consider consulting with a financial advisor for personalized debt management strategies.