See you how quickly you can get out of debt with different repayment options.
Debt Repayment Calculator with Snowball and Avalanche Methods
Getting out of debt can feel overwhelming, but having a clear plan makes all the difference. Our free Debt Repayment Calculator helps you take control by comparing powerful strategies side-by-side, so you can see exactly how to pay off your debts faster and smarter.
This easy-to-use tool lets you input your debts—like credit cards, loans, or bills—and instantly compares four approaches: your current minimum payments, the Debt Snowball method (paying off smallest balances first for quick wins and motivation), the Debt Avalanche method (targeting highest interest rates to minimize total costs), and a Debt Management Program (often interest-free consolidation through credit counseling). You’ll see projected timelines, monthly commitments, and total amounts paid, with charts highlighting your best option.
Whether you thrive on psychological boosts from early victories or prefer the math-driven savings of attacking high-interest debt first, this calculator empowers you to choose the path that fits your situation—helping you save money, build momentum, and achieve financial freedom sooner. Start today and turn your debt into a manageable, motivating journey!
Total Debt: $0
Total Monthly Payments: $0
All your debt adds up to a total of $0, and all your monthly payments add up to a total of $0 per month with $0 of this going to interest. This means you're currently losing $0 every month. You can take steps to get this money back. Below are some options that can help.
Different Ways to Pay Off Your Debt
| Method | Monthly Payment | Months to Pay Off | Total Payments |
|---|---|---|---|
| Current PaymentsThis is what you're paying right now based on the information you've entered. | – | – | – |
| AvalanchePays off your debt starting with the highest interest rate first. Debts are then paid off in order of interest rate with the highest paid off first and the lowest paid off last. | – | – | – |
| SnowballPays off your debt starting with the lowest balance first. Debts are then paid off in order of balance size starting with the smallest and ending with the largest. | – | – | – |
| Debt Management ProgramA debt repayment program done through the Credit Counselling Society that often eliminates all interest and allows you to pay off your debt with one affordable monthly payment. | – | – | – |
Comparing Total Payments
This chart shows the total amount you would pay under each repayment method until your debt is fully paid off.
Debt Balance Over Time
Each line shows how your total debt balance decreases over time using different repayment methods.
Repayment Details
Select a repayment method to see a projected payment schedule.
| Payment Number | Monthly Payment | Balance After Payment |
|---|
| Payment Number | Monthly Payment | Balance After Payment |
|---|
Every bit extra helps! Paying more than your minimum payments each month allows you to pay off your debt faster. Try moving the slider to see how even small extra payments can make a big difference.
Tip
Supercharge your plan to pay off your debt faster by applying as many of these debt defeating tips as you can.
This calculator is intended for educational purposes only. Due to different calculation methods used by different creditors, actual results experienced may vary from the projections provided here.
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