Free debt payoff calculator
See your debt-free date, two ways
Enter what you owe and what you can put toward it. See when the avalanche and snowball methods would have you debt-free, and the interest each one costs.
Your debts
Cards, lines of credit and loans. Nothing you type here is saved or sent anywhere.
Put this plan on a calendar
See each payment on the day it leaves your account, your balance after it, and your debt-free date as plans change.
Estimates from the numbers you enter: interest is worked out monthly and minimums stay the same each month. It isn't financial advice.
Snowball and avalanche, in plain terms
What is the debt avalanche method?
You pay the minimum on every debt, then put any extra toward the debt with the highest interest rate. When it's paid off, its payment moves to the next highest rate. Of the two methods it usually costs the least interest, since the most expensive debt shrinks first.
What is the debt snowball method?
You pay the minimum on every debt, then put any extra toward the smallest balance. When it's paid off, its payment moves to the next smallest. Debts disappear from the list sooner, which some people find easier to stick with, though it can cost more interest than the avalanche.
Why do the two methods sometimes give the same date?
When the smallest debt also has the highest rate, both methods pay the debts in the same order. With little extra each month, or debts with similar rates, the difference can also be small. The calculator shows both so you can see the difference with your own numbers.
What does "minimums only" show?
Each debt paid at its own minimum, with nothing moved over when one is paid off. It's there for comparison. Real credit card minimums often go down as the balance does, which would take longer still.
Is anything I type saved?
No. The calculator works in your browser and nothing you enter is saved or sent anywhere. Close the page and it's gone.
From a date to a plan you can follow
A calculator gives you a date. Lunda's Debt Planner puts each payment on a calendar next to your pay and your bills, shows your balance on every day, and updates your debt-free date when a payment moves or a plan changes.
The calendar is free. Every new account gets 14 days of everything, no card needed.