Create debt payoff plans using snowball or avalanche methods with timeline visualization, interest savings, and extra payment modeling.
A payoff plan depends on where each available dollar goes after required payments are covered. Enter every balance, APR, and monthly payment, choose snowball or avalanche ordering, and add any amount you can pay above those entries. The calculator projects the payoff sequence, timeline, and interest, making method and extra-payment comparisons visible. The easy mistake is counting the same extra money inside a debt's payment and again in the extra-payment field. Because these are sensitive financial details, the calculation stays in the browser and nothing is uploaded.
A concrete input and expected output from the current implementation.
Input
Debt: Promo card; balance: $100.00; APR: 0%; monthly payment: $60.00; extra payment: $0; method: snowball
Expected output
Payoff time: 2 months; total interest: $0.00; total paid: $100.00; payments: $60.00, then $40.00.
At 0% APR, no interest is added. The first payment leaves $40.00, so the final payment is $40.00; avalanche produces the same result when there is only one debt.
Snowball directs the available extra amount to the debt with the smallest balance. Avalanche directs it to the debt with the highest APR. Other debts continue receiving their entered monthly payments. After a target is cleared, its payment is rolled into the amount directed at the next target, preserving the planned monthly outlay until every listed debt reaches zero.
The timeline advances debt balances month by month, accounting for interest and payments, and limits the final payment to the amount still owed. From that schedule, the calculator totals interest and identifies the payoff month. Re-running the same debts with another method or extra amount provides a comparable scenario when the other entries remain unchanged.
With one debt, both methods have the same target. Results can also match when the smallest-balance order is already the highest-APR order, or when the budget clears multiple debts in the same month. No, avalanche is not guaranteed to produce a visibly different payoff date or interest total.
Not necessarily. The result is a planning estimate based on the balances, APRs, and payments entered. A lender may accrue interest daily, change a variable rate or minimum payment, add fees, and post payments on particular dates. Use a lender-issued payoff quote when an exact settlement amount is required.
The example and behavioral notes were checked against the browser implementation. Standards and primary references below define the relevant format, formula, or platform behavior.
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