Debt Payoff Planner
Enter every debt, add an extra monthly payment, and compare the avalanche and snowball orders side by side: payoff date, total interest and which debt to clear first.
Strategy
Pays off the highest-interest debt first. Minimises total interest paid; the mathematically optimal order.
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Your debts
NameBalanceAPR (%)Min. payment
List every debt with its balance, APR and minimum payment, then select Calculate payoff plan to see your debt-free date and the interest each strategy costs.
How this is calculated
We simulate paying your debts month by month under the avalanche or snowball method and show your payoff date and total interest vs. paying minimums only.
The steps
- Order debts by the chosen strategy: avalanche (highest APR first) or snowball (smallest balance first).
- Each month: add interest to every balance, pay the minimums, then throw all your extra payment at the priority debt.
- Repeat until everything is paid, recording the payoff month and total interest.
- Compare against a minimum-only schedule to show interest and time saved.
Assumptions
- Fixed APRs and minimum payments; the extra payment stays constant.
Good to know
- Avalanche saves the most interest; snowball can help motivation. Real minimums often shrink with the balance.
- If your payments don’t cover the monthly interest, the plan never pays off — the tool flags this instead of showing a payoff date.
Related resources
Educational disclaimer. Everything on WealthSerene.com is educational and is not investment advice. Projections and calculations are illustrative; actual results depend on market conditions, your situation and factors outside this tool’s scope. For a decision specific to your situation, consult a qualified financial professional. View full disclosures