Debt payoff planner
List your debts, pick Snowball or Avalanche, and see when you're debt-free. Minimums are paid every month; anything extra goes to one target debt at a time.
SHIP'S INSTRUMENTS
Debt payoff planner
List each debt with its balance, APR, and minimum payment. The planner pays every minimum each month, sends anything extra to one target debt at a time, and tells you when the last balance hits zero - and how much interest each method costs.
What if I stopped spending on…
Take a monthly habit and see what that money becomes if you invest it, or aim it at the debts above.
How it's calculated
- Each month: interest is added to every balance, minimums are paid, then the extra amount goes to the target debt. When a debt is cleared, its minimum rolls into the extra for the next one.
- Avalanche targets the highest APR first (ties go to the smaller balance). Snowball targets the smallest balance first, and keeps car and house loans for last so the quick wins come from cards and personal loans - the same rule the app uses.
- If minimum payments do not cover the monthly interest, the balance never shrinks and the planner says so instead of showing a misleading date.
Worked example
With a $4,200 card at 24.99%, an $11,500 car loan at 6.9%, and an $18,000 student loan at 5.5%, paying minimums plus $200 extra with Avalanche clears everything in about 6 years and 1 month with $5,840 in interest. The extra $200 alone saves 4 years and 4 months and roughly $4,850 of interest.
Frequently asked
Which method is better, snowball or avalanche?
Avalanche usually costs less interest because it attacks the most expensive debt first. Snowball gives faster early wins, which many people find easier to stick with. The planner shows both, and the gap is often smaller than expected - sometimes snowball even wins when a high-rate loan already has a large minimum that retires it quickly.
What does "not solvable" mean?
At least one debt's minimum payment is smaller than the interest it accrues each month, so the total balance grows instead of falling. Raise that minimum or add an extra payment.
Why are car and house loans last in snowball?
They are secured, usually low-rate, and have fixed payoff schedules. The app's snowball orders unsecured debts first so the momentum from cleared balances is not spent on a mortgage.
Related calculators
Every calculator here runs in your browser and matches the math in the BudgetArk app's Charts tab. Nothing you enter is stored or sent anywhere.
Want it with your real numbers?
In the app, this tool pulls from your actual debts, budget, and accounts - and everything stays on your phone.