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Debt Payoff Calculator
Compare debt payoff strategies and see how fast you can become debt-free
Your Debts
Payment Strategy
Total Debt
$8,000
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Months to Payoff
22 months
1.8 years
⏱️
Total Interest
$1,267.35
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Strategy Comparison
Avalanche Method
Pay highest interest rate first
$1,267.35
interest · 22 months
Snowball Method
Pay lowest balance first
$1,351.46
interest · 22 months
Payoff Schedule (First 12 Months)
Month 1$7,672.5 remaining
Month 2$7,340.22 remaining
Month 3$7,003.09 remaining
Month 4$6,661.03 remaining
Month 5$6,313.98 remaining
Month 6$5,961.86 remaining
Month 7$5,604.6 remaining
Month 8$5,242.13 remaining
Month 9$4,874.36 remaining
Month 10$4,501.21 remaining
Month 11$4,122.62 remaining
Month 12$3,738.5 remaining
Debt Payoff Strategies
Avalanche: Saves more money on interest. Best for maximizing savings.
Snowball: Provides psychological wins. Best for staying motivated.