TryClearTally
Printed July 4, 2026 · https://trycleartally.com/debt-payoff-calculator
Estimates for educational purposes only — not financial advice. See https://trycleartally.com/disclaimer.
Debt Payoff Calculator
List your debts and a monthly budget to compare the two most popular payoff strategies — snowball and avalanche — side by side: how fast each clears your debt and how much interest each costs.
Reviewed by the TryClearTally editorial team · Last updated July 4, 2026 · Methodology & sources
Minimum to cover all payments: $550
Avalanche saves you $445 in interest
Paying highest-APR debts first (avalanche) clears everything costs less in interest. Snowball (smallest balance first) can be easier to stick with.
Avalanche (highest APR first)
- Debt-free in
- 2 yr 8 mo
- Total interest
- $3,107
- Total paid
- $25,107
Payoff order: Credit card → Personal loan → Car loan
Snowball (smallest balance first)
- Debt-free in
- 2 yr 8 mo
- Total interest
- $3,553
- Total paid
- $25,553
Payoff order: Personal loan → Credit card → Car loan
Total balance
$22,000
Interest saved (avalanche)
$445
Debt-free (avalanche)
2 yr 8 mo
Balance over time
Interest accrues monthly on each balance. Estimates assume fixed APRs and a constant monthly budget, and don't include fees or promotional rates. For planning only.
Debt Payoff Plan
Debt-free (avalanche)
2 yr 8 mo
Estimates assume fixed APRs and a constant monthly budget. For planning only, not financial advice.
Calculated using the standard formulas described at https://trycleartally.com/methodology — for educational estimates only, not a quote or financial advice. Verify with your lender or financial institution before making decisions.
How it works
Both methods pay the minimumon every debt each month, then throw whatever budget is left at one “focus” debt. When that debt is gone, its payment rolls into the next one — the snowball effect. The only difference is which debt you focus on:
- Avalanche targets the highest interest ratefirst. This always costs the least interest and is usually the fastest — it's the mathematically optimal order.
- Snowball targets the smallest balance first. You clear individual debts sooner, which many people find more motivating even if it costs a little more interest overall.
Example: with a $6,000 card at 22%, a $12,000 car loan at 6.5%, and a $4,000 personal loan at 12% on an $800/month budget, avalanche attacks the 22% card first and typically saves a few hundred dollars in interest versus snowball, which would clear the $4,000 loan first. Adjust the numbers above to see your own gap.
FAQ
Avalanche (highest interest rate first) always costs the least interest and is usually fastest, so it's the mathematically optimal choice. Snowball (smallest balance first) clears individual debts sooner, which can be more motivating. If the interest difference between them is small, the best method is simply the one you'll actually stick with.