Debt Payoff Calculator
Estimate an avalanche payoff schedule across up to three debts.
| Debt | Balance | Minimum / month | APR % |
|---|---|---|---|
| Debt 1 | |||
| Debt 2 | |||
| Debt 3 |
Avalanche payoff schedule
| Month | Interest | Paid | Total remaining |
|---|
Balance and interest over time
Monthly balance alongside cumulative interest.
Total payoff share
Detailed Breakdown
Enter each debt
For every listed account, enter its current balance, required monthly minimum, and annual rate. Set a total monthly payoff budget that you can sustain.
Payment order
The schedule applies minimums first, then sends remaining budget to the highest-rate balance. When it is paid off, available extra is redirected to the next-highest rate.
Budget check
If the budget is below the sum of minimum payments, the estimate flags that the plan cannot meet all minimums. Increase the budget or review each creditor's required payment.
Assumptions
Rates and minimum payments stay fixed, no new charges or fees are added, and interest is approximated monthly. Issuer rules and daily-balance calculations can produce different results.
Examples
If one balance is 1,000 at 20% APR and another is 1,000 at 10% APR, the avalanche method sends available extra payment to the 20% balance after covering both minimums. Exact payoff time depends on the entered budget and rates.
FAQ
Why target the highest interest rate first?
Under fixed-rate assumptions, paying down the highest-rate debt first generally reduces total interest after minimums are covered.
What if my budget is below the minimums?
The modeled plan cannot cover every required minimum. Contact creditors or a qualified local adviser before relying on a simulated schedule.
Can I compare one card on its own?
Yes. Use the Credit Cards Payoff Calculator for a single balance and payment.
Related Calculators
- Credit Cards Payoff Calculator — model a single revolving balance.
- Budget Calculator — review the monthly payoff budget.
- Debt-to-Income Ratio Calculator — summarize debt relative to income.
Internal links: model a single balance with the Credit Cards Payoff Calculator or review monthly cash flow with the Budget Calculator.