Debt payoff planner
Every debt in one plan: the order to pay them, when each one is gone, and your debt-free date.
Debt-free
December 2028
2 years 1 month from your first payment, paying $1,000 a month. That’s $3,969 less interest and 2 years 6 months sooner than paying only the minimums.
- Total interest
- $2,661
- Total paid
- $24,461
- Minimums only
- June 2031
Your debt, month by month
Each band is one debt. Watch them disappear in order.
Today
$21,800
- Credit card$6,500
- Car loan$14,200
- Store card$1,100
Balances by year as a table
| Month | Credit card | Car loan | Store card |
|---|---|---|---|
| November 2026 | $6,500 | $14,200 | $1,100 |
| November 2027 | $1,048 | $10,073 | $793 |
| November 2028 | $0 | $458 | $0 |
| December 2028 | $0 | $0 | $0 |
Avalanche or snowball?
The same budget, two orders.
When each one is paid off
- 1Credit card$1,061 interestFebruary 2028
- 2Store card$210 interestMarch 2028
- 3Car loan$1,390 interestDecember 2028
How we calculate this
Each month every debt accrues interest at its APR divided by 12. Your budget pays every minimum first; whatever is left goes to the first debt in the order until it’s paid off, then to the next. A cleared debt’s payment keeps going to the rest, so the budget never changes.
Card issuers compute interest on the average daily balance, and minimums usually shrink as balances do, so your statements will differ a little. The order and the dates stay a good guide.
Questions
- What's the difference between avalanche and snowball?
- Both pay the minimum on every debt and put everything extra on one target. Avalanche targets the highest interest rate first, which costs the least. Snowball targets the smallest balance first, so the first debt disappears sooner, which helps many people stick with it.
- What happens when a debt is paid off?
- Its payment rolls on to the next debt in the order, so your total monthly budget stays the same and each debt goes faster than the one before.
- Why does a debt say its minimum doesn't cover the interest?
- If a month's interest is more than the minimum payment, the balance grows when you pay only the minimum. The plan still clears it with your extra money, but it's worth paying more on it or moving it to a lower rate.
- Should I include my mortgage?
- Usually not. A mortgage's rate is often lower than other debts and its term is long; most people plan it separately. Use the mortgage calculator for it.
See this with your real accounts
Geldfish links your bank, finds your paychecks, bills and loans, and shows your balance on every day ahead.
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