Debt Payoff Calculator
See when you'll be debt-free. Enter your debts, choose a payoff strategy, and get a personalised month-by-month repayment plan — free, private, no account needed.
How to use the debt payoff calculator
Three steps to your personalised debt-free plan
Enter your debts
Add each debt with its current balance, annual interest rate (APR), and minimum monthly payment. You can add as many debts as you need.
Set your extra payment
Enter how much extra you can pay each month above the total minimums. Even a small extra amount can shave years off your payoff date.
Compare strategies
Switch between Avalanche (highest rate first), Snowball (smallest balance first), and Minimum-only to see the impact on your timeline and total interest.
💡 Avalanche vs Snowball
The Avalanche method targets the highest-interest debt first, saving you the most money over time. The Snowball method pays off the smallest debt first, giving you quick psychological wins. Both are far better than paying only minimums — pick the one that keeps you motivated.
Track every payment automatically
Yomio helps you stay on your debt-free journey — scan receipts, categorize spending, and let AI show exactly where you can free up extra money for debt payments.
- 📷 OCR receipt scanning in seconds
- 🤖 AI Copilot for spending insights
- 📊 Real-time expense analytics
- 💪 Debt-free goal tracking
AI Copilot: Switch to Avalanche and save $3,240 in interest over 18 months.
About this debt payoff calculator
This free debt payoff calculator helps you build a realistic debt repayment plan in minutes, right in your browser. No account required, no data stored — your financial information stays completely private. Enter multiple debts with their balances, interest rates, and minimum payments, then choose between the Avalanche method (targeting highest-interest debt first) or the Snowball method (targeting smallest balance first). The calculator instantly generates a month-by-month repayment schedule showing exactly when each debt is eliminated and how much interest you pay. Compare strategies side-by-side to find the approach that saves you the most money or keeps you the most motivated.
Ready to accelerate your debt payoff? The Yomio expense tracking app helps you find extra money by tracking every purchase, surfacing savings opportunities, and building the smart financial habits that get you to debt-free faster.