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 and Extra Payment
Choose Your Payoff Strategy
Avalanche Method
Highest interest rate first. Minimizes total interest paid — the mathematically optimal approach.
Snowball Method
Smallest balance first. Builds momentum with quick wins — great for motivation and adherence.
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Results
Total Starting Balance
$0
across all debts
Months to Debt-Free
—
—
Payoff Date
—
approximate
Total Interest Paid
$0
cost of your debt
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.
- Snowball Method
- Pays minimums on all debts, then directs every extra dollar at the smallest balance first. Costs slightly more in interest but produces faster wins which helps motivation.
- Rolling Payments
- Once a debt is paid off, its minimum payment is added to the extra payment pool and redirected to the next debt. 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.
- Simplifications
- Assumes a fixed APR and fixed minimum payment per debt. 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 advice. Always verify figures with your actual lenders.
1-on-1 Coaching
Wondering how to optimize these numbers
for your actual bank account?
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