Debt Payoff Calculator
List your debts, pick an order, and see your debt-free date — plus the exact dollar gap between paying the highest rate first (avalanche) and the smallest balance first (snowball). Free, no sign-up — everything runs in your browser and nothing is stored.
Your Debts
On top of every minimum. When a debt clears, its whole payment rolls into the next one.
Your Payoff Plan
- Debt-free by
- Jun 2029
- 2 yr 10 mo
- Total interest
- $2,807
- Interest saved
- $4,100
- vs minimums only
- Time saved
- 3 yr 4 mo
- vs minimums only
With these debts, both payoff orders cost the same — pick whichever keeps you going.
Payoff order: Credit card → Car loan.
Payoff order is one lever. Lodestar weighs it against your emergency fund, employer match, and savings rate — and ranks every move by dollar impact.
Run your free analysisHow the Math Works
The plan is a month-by-month amortization, not a shortcut formula. Each month, every debt accrues interest at its APR divided by twelve; every debt then receives its minimum payment, and your extra payment goes to the target debt — highest rate first under avalanche, smallest balance first under snowball. When a debt hits zero, its entire payment rolls into the next target (the “rollover” that makes both strategies snowball in size over time), and if the target clears mid-month the remainder spills straight into the one after it. The minimums-only baseline runs the same amortization with no extra payment and no rollover, which is where the interest-saved and months-saved figures come from. The math is deterministic — the same inputs always produce the same plan — and the same engine family powers Lodestar's full analysis.
Questions People Ask
What's the difference between avalanche and snowball?
Both pay every minimum every month and aim all extra money at one target debt, rolling each cleared payment into the next. They differ only in the order: avalanche targets the highest interest rate first, snowball targets the smallest balance first. Avalanche minimizes total interest; snowball front-loads the quick wins of closing accounts.
Why does paying the highest rate first save more interest?
Every dollar of balance at 25% APR costs about five times as much per month as a dollar at 5%. Sending extra money to the most expensive balance first shrinks the fastest-growing part of your debt, so less interest accrues overall. The calculator quantifies the gap for your exact debts — sometimes it's large, sometimes the two orders land within a few dollars of each other.
Is snowball ever the better choice?
Mathematically, no — avalanche always costs the same or less. Behaviorally, sometimes yes. Closing an account in month three feels different from watching one big balance shrink for a year, and research on debt repayment suggests people who see accounts disappear are more likely to stick with the plan. If the interest gap the calculator shows is small and quick wins keep you paying, snowball is a reasonable trade. If the gap is large, that's the real cost of the motivation boost — decide with the number in front of you.
What if my payment doesn't cover the interest?
When a debt's monthly payment is smaller than the interest it accrues that month, the balance grows instead of shrinking — that debt never pays off at that payment level. The calculator flags this instead of pretending otherwise. Fixes to explore: pay more than the minimum, or reduce the rate (for example a balance transfer or consolidating at a lower APR — compare fees before moving).
Do I need an account? Is anything stored?
No account, no sign-up. The calculation runs entirely in your browser and nothing you type is saved or sent anywhere.
Is this financial advice?
No. Lodestar Wealth provides education and tools, not investment advice, and nothing here is a recommendation to buy or sell any security. The payoff plans are illustrations built from the numbers you enter, not guarantees — actual card interest can differ slightly because issuers use daily compounding and your rates can change. For decisions with tax consequences, confirm with a CPA.
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Payoff Order Is One Decision. Your Finances Have a Dozen.
Should the extra $200 even go to debt, or to the employer match you're leaving on the table? Lodestar reads your actual numbers and hands you a ranked plan with the dollar impact of every move. Run your free analysis →