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