Debt Payoff Calculator

Modify the values and click on the calculate button to use

How much debt payoff do I have?

The calculator below estimates the amount of time required to pay back one or more debts. Additionally, it gives users the most cost-efficient payoff sequence, with the option of adding extra payments. This calculator utilizes the debt avalanche method, considered the most cost-efficient payoff strategy from a financial perspective.

Debt name
Remaining balance
Monthly or min. payment
Interest rate

1

$
$
%

Investment Length

$

/ month

$

/ year

$

/ of one-time payment made during the

th

month

Fixed total amount towards monthly payment?

If "Yes" is chosen, after a debt has been paid off, the money that was being paid to that specific debt will be distributed towards paying off remaining debts; the total amount initially allotted to monthly payments will be fixed until all debts are paid off. If "No" is chosen, after a debt is paid off, the monthly payment for that particular debt will not be distributed towards paying off the remaining debts. In this case, the total amount allotted to monthly payments decreases as debts are paid off.

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Frequently asked questions

It's always hard to commit to something. We're here to help you make the right decision.