Debt Payoff Guide

This calculator estimates how long it will take to pay off a balance using a fixed monthly payment. It also shows total interest paid.

Key inputs

• Total balance: The amount you owe.
• APR: Annual interest rate.
• Monthly payment: The amount you’ll pay each month.

Payoff strategies

• Snowball: Pay smallest balances first for momentum.
• Avalanche: Pay highest interest first to save money.

How to reduce interest

• Increase your monthly payment whenever possible.
• Prioritize high‑APR balances.
• Consider a balance transfer if fees are low.

Common pitfalls

• Paying less than interest (balance grows).
• Ignoring fees or promotional APR expiration.
• Taking new debt while paying down existing balances.

This guide is educational and not financial advice.