WiseCalc

Debt Payoff Calculator

Model a fixed monthly debt budget with nominal interest rates. Compare avalanche and snowball, remaining debt and interest, and export an illustrative roadmap.

Payoff Strategy

Choose whether to prioritize the highest rate first or the smallest balance first.

Debt Inputs

Add each balance with its nominal annual rate and required minimum payment.

Debt 1
Debt 2
Debt 3

Monthly interest equals the opening balance × nominal annual rate / 1200, followed by payments. Initial minimums plus extra form a fixed budget; freed minimums roll into other debts. Minimums are capped at each balance, then the remainder follows the selected strategy. Rates and minimums stay fixed. No fees, new borrowing, daily accrual or lender cent-rounding are modeled. The first payment is in the next calendar month; dates are illustrative. The no-extra baseline also rolls minimums over.Payoff and interest comparisons are available only when the corresponding plans complete. Incomplete plans show their modeled months, partial payments and interest, and remaining balance. Numerical work or representability limits may leave individual fields unavailable; no debt is forgiven to make the model finish.

Total Debt
$28,400.00
Payoff Date
Jul 2029
32 months
Total Interest
$4,712.43
Interest Saved
$3,876.71
vs no-extra fixed-budget baseline; available only when both plans pay off

Balance Roadmap

Total balance remaining as you work through your payoff plan.

Avalanche — Strategy

Monthly Payoff Roadmap

Every month of the plan, including your main payment focus and remaining balance.

32 months
MonthDateDebt Being PaidPaymentRemaining Total
1Dec 2026Credit Card$1,055.00$27,657.47
2Jan 2027Credit Card$1,055.00$26,905.42
3Feb 2027Credit Card$1,055.00$26,143.69
4Mar 2027Credit Card$1,055.00$25,372.14
5Apr 2027Credit Card$1,055.00$24,590.59
6May 2027Credit Card$1,055.00$23,798.89
7Jun 2027Credit Card$1,055.00$22,996.86
8Jul 2027Credit Card$1,055.00$22,184.33
9Aug 2027Credit Card$1,055.00$21,361.14
10Sep 2027Credit Card$1,055.00$20,527.09
11Oct 2027Credit Card$1,055.00$19,682.03
12Nov 2027Credit Card$1,055.00$18,825.75
13Dec 2027Credit Card$1,055.00$17,958.08
14Jan 2028Credit Card$1,055.00$17,078.82
15Feb 2028Credit Card$1,055.00$16,187.77
16Mar 2028Credit Card$1,055.00$15,284.75
17Apr 2028Credit Card$1,055.00$14,369.55
18May 2028Credit Card$1,055.00$13,441.97
19Jun 2028Credit Card$1,055.00$12,501.79
20Jul 2028Credit Card$1,055.00$11,548.80
21Aug 2028Credit Card$1,055.00$10,582.79
22Sep 2028Credit Card, Personal Loan$1,055.00$9,603.54
23Oct 2028Personal Loan$1,055.00$8,612.07
24Nov 2028Personal Loan$1,055.00$7,612.37
25Dec 2028Personal Loan$1,055.00$6,604.36
26Jan 2029Personal Loan$1,055.00$5,587.97
27Feb 2029Personal Loan, Auto Loan$1,055.00$4,563.12
28Mar 2029Auto Loan$1,055.00$3,531.69
29Apr 2029Auto Loan$1,055.00$2,494.94
30May 2029Auto Loan$1,055.00$1,452.83
31Jun 2029Auto Loan$1,055.00$405.34
32Jul 2029Auto Loan$407.43$0.00

Free Debt Payoff Plan Template

A debt payoff plan works better when you can actually see it. This free debt payoff plan template helps you list each balance, track interest rates, plan monthly payments, and estimate when you could become debt-free.

Milestones

Credit Card
Paid off in Sep 2028
Month 22
Personal Loan
Paid off in Feb 2029
Month 27
Auto Loan
Paid off in Jul 2029
Month 32
Combined minimums$805.00
Extra payment$250.00
Monthly budget$1,055.00
Minimum-payments payoff46 months

Model assumptions

Monthly interest equals the opening balance × nominal annual rate / 1200, followed by payments. Initial minimums plus extra form a fixed budget; freed minimums roll into other debts. Minimums are capped at each balance, then the remainder follows the selected strategy. Rates and minimums stay fixed. No fees, new borrowing, daily accrual or lender cent-rounding are modeled. The first payment is in the next calendar month; dates are illustrative. The no-extra baseline also rolls minimums over.

Payoff and interest comparisons are available only when the corresponding plans complete. Incomplete plans show their modeled months, partial payments and interest, and remaining balance. Numerical work or representability limits may leave individual fields unavailable; no debt is forgiven to make the model finish.

Source context

CFPB: https://files.consumerfinance.gov/f/documents/cfpb_your-money-your-goals_debt-action-plan_tool_2018-11.pdf

Frequently Asked Questions