See how quickly you can become debt-free by paying off up to three debts using the avalanche method (highest interest rate first).
This debt payoff calculator shows how long it would take to become debt-free across up to three separate debts — such as credit cards, personal loans, or other balances — using the "avalanche" method, where any extra payment is directed toward the debt with the highest interest rate first. It estimates your total time to debt freedom and total interest paid across all debts combined.
Each month, this calculator applies the minimum payment to every debt (covering at least the interest due), then directs any extra payment — plus the minimum payments freed up from any debts already paid off — toward the debt with the currently highest interest rate. Once that debt is paid off, the extra payment "avalanches" onto the debt with the next-highest rate, and so on.
Formula: Each month: Interest = Balance × (Rate ÷ 12). Minimum payments cover interest plus some principal on each debt. All extra funds (extra payment + freed-up minimums from paid-off debts) go to the highest-rate remaining debt's principal.
Example: With a $5,000 balance at 22% (minimum $150), an $8,000 balance at 12% (minimum $200), and a $100 extra monthly payment, the avalanche method directs the $100 extra toward the 22% debt first — paying it off faster and saving more interest than if the extra went to the 12% debt. (Note: all figures in this example are for illustration purposes only and do not represent your actual debts.)
The "avalanche" method used in this calculator targets the highest-interest debt first with any extra payment, which mathematically minimizes total interest paid — this is generally the most cost-effective strategy. An alternative, the "snowball" method, targets the smallest balance first regardless of interest rate, which some people find more motivating because debts get eliminated faster, even if it costs slightly more in total interest. Either way, making extra payments — even relatively small ones — toward a structured payoff plan can significantly reduce the time and total cost of becoming debt-free compared to paying only minimums on each debt separately (example minimum payment behavior used in this calculator — check your actual loan/card terms).
The debt avalanche method directs any extra payment toward the debt with the highest interest rate first, while making minimum payments on all other debts. Once the highest-rate debt is paid off, extra funds move to the next-highest-rate debt, and so on. This approach generally minimizes total interest paid.
The snowball method targets the smallest balance first regardless of interest rate, aiming to eliminate individual debts quickly for motivation. The avalanche method targets the highest interest rate first, which generally results in less total interest paid over time.
This calculator assumes that once a debt is fully paid off, its minimum payment amount is redirected toward your remaining debts (along with any extra payment), accelerating the payoff of the remaining balances. Make sure to do this in practice as well.
Even a relatively modest extra payment can significantly reduce both the time to become debt-free and the total interest paid, especially on high-interest debts like credit cards, because it reduces the principal balance that future interest is calculated on.
Yes — leave any unused debt's balance at 0, and this calculator will simply exclude it from the calculation, focusing on whichever debts you've entered.
No. This calculator projects payoff based on the current balances, rates, and payments you enter, assuming no new charges are added. Adding new debt during the payoff period would extend the timeline and increase total interest.
Disclaimer: The information, rates, and figures provided on this page are for educational and illustrative purposes only. All rates, balances, and examples shown are sample values and do not reflect your actual debts. Financial rules and lending terms change frequently. Always consult your account statements and a qualified financial advisor before making any financial decisions.