Rolling over a paid debt’s payment
Two zero-rate debts of 100 and 200 with minimums of 50 each create a 100 monthly budget. Once one debt is paid, its unused minimum is available to the other, so all 300 is repaid over three months.
Pay fixed minimum amounts on all debts, then put the remaining fixed monthly budget toward one debt at a time. Freed minimum payments stay in the budget. No new debt, fees, or changing rates.
USD 370.00Fixed monthly budget
36 monthsSelected strategy payoff
USD 2,112.33Selected interest
USD 2,112.33Other strategy interest
The other strategy repays in 36 months. Interest totals cover the modeled horizon, so compare them as total payoff costs only when both plans repay.
Payoff milestones
- Card A: month 23
- Loan B: month 36
Monthly schedule
Calculated at full precision; displayed amounts are rounded. CSV includes every period with six decimal places.
| Month | Opening | Interest / growth | Combined payment | Closing |
|---|---|---|---|---|
| 1 | USD 11,000.00 | USD 126.67 | USD 370.00 | USD 10,756.67 |
| 2 | USD 10,756.67 | USD 123.18 | USD 370.00 | USD 10,509.84 |
| 3 | USD 10,509.84 | USD 119.63 | USD 370.00 | USD 10,259.47 |
| 4 | USD 10,259.47 | USD 116.02 | USD 370.00 | USD 10,005.49 |
| 5 | USD 10,005.49 | USD 112.34 | USD 370.00 | USD 9,747.83 |
| 6 | USD 9,747.83 | USD 108.60 | USD 370.00 | USD 9,486.44 |
| 7 | USD 9,486.44 | USD 104.80 | USD 370.00 | USD 9,221.24 |
| 8 | USD 9,221.24 | USD 100.93 | USD 370.00 | USD 8,952.17 |
| 9 | USD 8,952.17 | USD 96.99 | USD 370.00 | USD 8,679.16 |
| 10 | USD 8,679.16 | USD 92.99 | USD 370.00 | USD 8,402.15 |
| 11 | USD 8,402.15 | USD 88.91 | USD 370.00 | USD 8,121.06 |
| 12 | USD 8,121.06 | USD 84.76 | USD 370.00 | USD 7,835.82 |
Interest is added monthly at annual rate ÷ 12, then minimums are paid, then extra is allocated. Snowball sorts remaining balances after minimums; equal priorities use entry order. Minimums are fixed amounts, not issuer formulas; this may differ from actual card statements. Full precision internally; last payments are capped.
Your inputs and calculations stay in this browser. No live financial data is fetched; amounts use your selected USD or GBP labels.
How to use the Debt Payoff Calculator
- 01
Add each balance, nominal annual rate, and a fixed monthly minimum amount in the same currency.
- 02
Enter extra money available above the sum of those minimums and choose a priority strategy.
- 03
Compare outcomes, inspect payoff milestones, and download the aggregate monthly schedule.
Examples
Priorities can differ
A small low-rate balance is targeted first by snowball, while a larger high-rate balance is targeted first by avalanche. The calculator displays the modeled interest and time for both using identical starting debts and budget.
Payment allocation order
Each month interest is added at annual rate divided by 1,200. Every debt then receives its minimum, capped at what is owed. The remaining fixed budget goes toward the highest-rate or smallest remaining balance, continuing to another debt if the first is paid. Freed minimums stay in the total budget.
What the strategy names mean here
Avalanche sorts by rate from highest to lowest. Snowball sorts by balances remaining after that month’s minimum payments. Ties follow entry order. These precise rules make the comparison repeatable; other debt planners may sort snowball by the original starting balance instead.
When totals are not comparable payoff costs
A plan that cannot cover growing balances may not repay within the 1,200-month simulation. Its interest figure covers only the months modeled, while an otherwise successful plan’s figure covers its entire payoff. Do not treat a lower capped total as a better total borrowing cost.
What to know
- No new borrowing, fees, variable rates, promotional periods, daily accrual, or issuer minimum formulas.
- At most eight debts and 1,200 months. All debts must use one currency; no conversion or personalized strategy advice.
Common questions
Will minimum payments decrease automatically?
No. They are fixed amounts entered by you, not a creditor’s percentage or fee formula.
Does it account for different due dates?
No. All debts accrue and receive payments on the same monthly cycle. It does not schedule calendar dates or change interest for early payments.
What if minimum payments do not cover interest?
Debt can grow. The model flags a balance remaining at its horizon, and rejects scenarios that exceed its numeric safety limit. Neither result is a feasible payoff promise.