Free tool
Debt Burn-Down Calculator
Add your debts, choose snowball or avalanche, and see your debt-free date, total interest and the order your balances will burn. Your numbers stay in your browser.
1. Your debts
Snowball pays the smallest balance first. Avalanche pays the highest rate first. Paid-off payments roll into the next debt automatically.
2. Your burn-down
Payoff order
Estimates only. Assumes fixed rates, no new charges and monthly compounding. Your lender’s numbers may differ.
How to use the calculator
- Enter each debt with its balance, APR and minimum payment. You will find all three on your latest statement.
- Add your extra amount, the money you can put toward debt on top of minimums.
- Pick a method. Snowball targets the smallest balance first; avalanche targets the highest rate.
- Read the burn-down. The chart shows your total balance falling over time, and the list shows when each debt hits zero.
Snowball vs. avalanche in one sentence
Avalanche almost always costs less interest; snowball gives you a paid-off account sooner, which keeps many people going. If the calculator shows only a small difference, pick the one you will stick with. Read the full guides to the debt snowball method and the debt avalanche method, or the step-by-step payoff plan guide.
Want to lower the rate too?
A lower APR moves more of each payment to principal. See balance transfers or compare options. More detail in our debt payoff calculator guide.