How to Use the Debt Payoff Calculator to Compare Strategies
Add each debt with its balance, interest rate, and minimum payment, enter an extra monthly payment amount, and choose avalanche or snowball as the strategy. The calculator simulates the full payoff month by month and shows the total time to debt-free and total interest paid under that strategy.
The Debt Payoff Calculator is built to compare, not just calculate — here's how to set it up to see the real difference between strategies for your own debts.
Entering your debts
Each debt row needs a name (for your own reference), current balance, interest rate (APR), and minimum monthly payment — all found on a recent statement. Add a row for every separate debt; the calculator handles any number of them in the same simulation.
Setting the extra payment and comparing strategies
The extra monthly payment field is the amount above all combined minimums you're committing to debt payoff. Toggle between avalanche and snowball to see how the total payoff time and total interest change — run it both ways with the same extra payment to get a true apples-to-apples comparison.
The payoff order shown in the result reflects exactly which debt the extra payment attacks first under the selected strategy, which can be useful for setting up autopay amounts that match the plan.