FinoGet startedDebt Payoff Calculator
3 minCompare debt snowball and avalanche strategies to reach zero faster.
46 months
That is June 2030, paying $930 a month against $35,000 of debt.
Minimums alone would take 81 months and cost $12,153 in interest.
This plan costs $6,883, saving $5,270.
What you owe over time
Interest by strategy
Your monthly payment
$930/ month
- Minimum payments$73078%
- Extra you add$20022%
Order you clear them
Highest rate first, so the most expensive debt stops charging you soonest.
Keep going
A 46 months plan only works if you can hold $930 a month.
Every payoff plan is really a cash-flow bet. Fino tracks whether the money is actually there each month, across all of the accounts the payments come from.
- All 3 balances updated automatically as payments land
- Spending tracked against the room this plan needs
- Progress you can see without rebuilding the spreadsheet
Free forever, no card required
Estimates are based on the information and assumptions you provide and are for educational purposes only. This is not financial, tax, legal or lending advice.
What this means
- Avalanche targets the highest rate first and saves $133 of interest compared with snowball on these balances.
- Snowball clears the smallest balance first. The first win arrives sooner, which is why people stay with it.
- Your extra $200 a month pulls the debt-free date in by about 35 months.
Assumptions & methodology
- Interest compounds monthly at the rate you entered.
- Minimum payments stay flat rather than shrinking with the balance, which most card issuers recalculate each month.
- No new spending is added to these balances.
Related calculators
View all calculatorsSee your full financial picture
Open Fino to connect your accounts and see how this decision fits your cash flow, goals and budget.
- Track cash flow and spending
- Keep goals and budgets in one place
- Ask Fino AI about your own numbers
Common questions
What people ask most about the Debt Payoff Calculator.
What is the difference between the snowball and avalanche methods?
Both pay minimums on everything and direct all spare money at one target debt. The avalanche targets the highest interest rate first, which mathematically minimises total interest. The snowball targets the smallest balance first, which clears individual debts sooner and produces visible early wins.
Which one should I actually choose?
The avalanche always wins on paper, but usually by less than people assume — often a few hundred dollars across a multi-year payoff. Published behavioural research has found people are more likely to stay with the snowball to completion. A plan you finish beats a marginally cheaper plan you abandon.
Should I pay off debt or build an emergency fund first?
The common sequence is a small starter buffer of around one month of essential expenses, then aggressive debt repayment, then a full three-to-six-month fund. Without any buffer the next unexpected expense goes back onto the card you just paid down, which is how people cycle for years without progress.
Does consolidating debt help?
A consolidation loan helps only if the new rate is genuinely lower after fees and you do not re-use the cleared credit lines. It replaces several payments with one, which is easier to manage, but it does not reduce what you owe — and it lengthens the term often enough that total interest rises even at a lower rate.