The Debt Avalanche Calculator prioritizes debts by their interest rate, from highest to lowest. Continue making minimum payments on every account and apply your extra budget to the highest-rate balance first.
How the method works
Enter balances, annual rates, minimum payments, and the extra amount available each month. The calculator estimates the payoff order, interest, and time using a fixed-rate model. Lender rules, variable rates, fees, and new borrowing are not included unless entered as assumptions.
Interpretation
The avalanche method generally minimizes interest when the inputs stay constant. It can take longer to close the first account than a snowball plan, so consider both the financial and behavioral trade-offs.