Debt Freedom
Debt Payoff Planner
Add your debts, choose a payoff strategy, and see exactly when you will make your last payment — and how much interest you will save.
Your Debts
Debt List Enter each debt below
| Debt Name | Balance ($) | APR (%) | Min Payment / mo ($) | Remove |
|---|
Strategy & Extra Payment
Choose Your Payoff Strategy
$
Results
Total Starting Balance
$0
across all debts
Months to Debt-Free
—
—
Payoff Date
—
approximate
Total Interest Paid
$0
cost of your debt
Remaining Balance Over Time
Total balance across all debts, month by month until debt-free
Payoff Order
Debt Elimination Schedule
| Order | Debt Name | Starting Balance | APR | Paid Off At Month |
|---|---|---|---|---|
| Add your debts above to see the payoff schedule. | ||||
How to Interpret This Planner
- Avalanche Method
- Pays minimums on all debts, then directs every extra dollar at the debt with the highest interest rate first. Mathematically minimizes total interest paid over time — the best strategy purely on numbers.
- Snowball Method
- Pays minimums on all debts, then directs every extra dollar at the smallest balance first, regardless of interest rate. Costs slightly more in interest but produces faster “wins” — fully clearing debts sooner — which helps motivation and adherence.
- Rolling Payments
- Once a debt is paid off, its minimum payment is added to the extra payment pool and redirected to the next debt in the strategy order. This acceleration is what makes both methods so powerful over time.
- Total Interest Paid
- The sum of all interest charged across all debts until every balance reaches zero. Compare this figure between the two strategies to see the real financial trade-off — and weigh it against the motivational benefit of the snowball approach.
- Simplifications
- Assumes a fixed APR and fixed minimum payment per debt — no promotional rate changes, fees, or missed payments. The extra payment amount is assumed constant every month.
This planner is a coaching aid only. It is not a substitute for lender statements or regulated financial and credit advice. Always verify figures with your actual lenders.