Should I pay more than the minimum?

Paying more than the minimum can shorten the payoff timeline and reduce interest. Keep enough cash for essential bills and a small emergency buffer before sending extra money to debt.

Free debt payoff calculator

Q: Which debt payoff method is best?

Avalanche usually saves the most interest, while snowball can feel easier to stick with because it creates faster small wins. The best method is the one you can follow consistently.

Add your debts, minimum payments, interest rates, and any extra monthly payment. Compare the debt snowball and debt avalanche methods, then use the plan as a simple next step inside your monthly budget.

Your debts

Enter each current balance, APR (the yearly interest rate), and required minimum monthly payment. Use the latest statement when possible.

Debt Balance Yearly interest rate (APR %) Required minimum payment

Monthly plan

Choose a payoff method and add any amount you can pay above the minimums.

Payoff method i

Extra amount you can pay each month

This is money above the required minimum payments. Enter 0 if you cannot add extra right now.

Payoff result

This is an estimate based on the balances, rates, and payments you entered. Start with the debt-free date, then check whether the monthly payment fits your budget.

Total debt$0.00

Monthly payment$0.00

Interest estimate$0.00

Debt-free date-

Monthly payment combines all minimum payments with your extra payment. Interest estimate is the total interest expected from now until payoff under the selected method; it is not part of the starting debt balance.

Needs Review

Start with your balances.

Your payoff estimate will appear once you add at least one debt with a balance and payment.

Snowball interest $0.00

Avalanche interest $0.00

Snowball vs avalanche: Snowball targets the smallest balance first. Avalanche targets the highest APR first. The two numbers above compare the total estimated interest cost of each method using the same monthly payment.

Payoff time 0 months

Interest difference between methods $0.00

The interest difference tells you the estimated cost of choosing one method over the other. A small difference means motivation and consistency may matter more than the mathematical winner.

Payoff order

This is the order the selected method expects your debts to be paid off.

Debt	Start balance	APR	Paid off	Interest

How this debt payoff calculator works

The calculator estimates a month-by-month payoff plan. It applies monthly interest, pays minimums on every active debt, and sends your extra payment toward the debt selected by your payoff method.

Payoff formula

The payment snowballs as each debt is paid off.

Minimum payments + extra payment = monthly payoff plan

Before you pay extra

Keep enough cash for rent, food, utilities, transportation, and a small emergency buffer. A debt plan is easier to keep when the rest of the budget is not too tight.

Debt snowball vs debt avalanche

Both methods pay minimums on every debt. The difference is where the extra money goes first.

Debt snowball

Pay the smallest balance first, then roll that payment into the next smallest balance.

Often creates faster early wins
Can be motivating when you feel stuck
May cost more interest than avalanche

Debt avalanche

Pay the highest interest rate first, then roll that payment into the next highest rate.

Often saves the most interest
Works well when you can stick with the math
May take longer to feel the first win

Example debt payoff plan

A small extra payment can change the timeline because the extra amount keeps rolling forward as each balance is cleared. Here is how to read a simple plan.

Line	Example amount
Credit card balance	$3,200 at 22.99%, $100 minimum
Car loan balance	$7,800 at 7.25%, $250 minimum
Student loan balance	$12,000 at 5.50%, $120 minimum
Extra monthly payment	$150
Total first-month payment	$620

What this example means

Every debt still gets its minimum payment. In the first month, that means $100 to the credit card, $250 to the car loan, and $120 to the student loan.
The extra $150 goes to one target debt. With these numbers, both avalanche and snowball would start with the credit card because it has the highest interest rate and the smallest balance.
When the credit card is gone, its payment rolls forward. The $100 credit card minimum plus the $150 extra can then be sent to the next debt, on top of that debt's own minimum payment.
The calculator repeats that process month by month. It adds interest, pays the required minimums, applies the extra payment, and shows the estimated payoff order, interest cost, and debt-free date.

A simple debt payoff checklist

List every balance. Include the current balance, APR, and minimum payment so the estimate is useful.
Protect your essentials first. Do not make a debt plan that causes missed rent, overdrafts, or new credit card spending.
Pick one method. Avalanche is usually cheaper. Snowball can be easier emotionally. Choose the one you can repeat.
Track the payment in your budget. Use Fleur's monthly budget calculator to make sure the extra payment fits before the month starts.

Debt payoff calculator FAQ

What is a debt payoff calculator?

A debt payoff calculator estimates how long it may take to pay off debts using your balances, interest rates, minimum payments, and extra monthly payment.

What is the debt snowball method?

The debt snowball method pays minimums on every debt, then sends extra money to the smallest balance first. When that debt is gone, its payment rolls into the next smallest balance.

What is the debt avalanche method?

The debt avalanche method pays minimums on every debt, then sends extra money to the highest interest rate first. It usually saves more interest than snowball if you can stay consistent.

Which debt payoff method is best?

Avalanche is usually best for interest savings. Snowball can be best for motivation. A plan you can follow every month is better than a perfect plan you abandon.

Should I include loans and credit cards together?

You can include both if they are part of the same payoff goal. If a loan has special rules, fees, or forgiveness options, check those details before sending extra principal.

What should I do after I calculate my debt payoff plan?

Add the payment to your monthly budget, then track the actual payment in Fleur. Keeping the debt plan beside your spending makes it easier to avoid accidental overspending.

Create, save, and track your debt payoff plan in Fleur

This calculator helps you sketch the payoff math. Fleur is where you can track the debt payment beside your budget, spending, savings goals, and accounts.