Debt Avalanche
FAQs
What is the debt avalanche method?
It’s a strategy to pay off debts starting with the highest interest rate first.
How does this calculator work?
Enter your debts and interest rates; it shows your fastest payoff plan.
Can I use it for multiple debts?
Yes, just list all your debts with balances and interest rates.
Is my data saved or shared?
No, all calculations happen privately in your browser only.
Can I print my results?
Yes, use the print button to get a clear summary of your plan.
Debt Avalanche Calculator
Enter your debts and extra monthly payment. This calculator prioritizes the debt with the highest interest rate to help reduce interest costs.
Your Debt Avalanche Plan
Recommended Payoff Order
Continue making minimum payments on every debt. Apply your extra money to the debt at the top of this list. When it is paid off, roll that payment into the next debt.
Estimates are for educational purposes only. Actual payoff dates and interest may vary due to lender calculations, payment timing, fees and account terms.
HOW TO USE THE DEBT AVALANCHE CALCULATOR
The debt avalanche method focuses extra payments on the debt with the highest interest rate. This approach may help reduce the total interest you pay while working toward becoming debt-free.
HOW TO GET STARTED
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Enter the name of each debt.
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Enter each current balance, annual interest rate and minimum payment.
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Enter the extra amount you can put toward debt every month.
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Select the option to calculate or view your payoff schedule.
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Continue paying the minimum on every debt while directing extra money toward the debt with the highest interest rate.
HOW THE DEBT AVALANCHE METHOD WORKS
The calculator arranges your debts from the highest interest rate to the lowest interest rate.
You continue making at least the minimum payment on every debt. Your extra monthly payment goes toward the debt with the highest interest rate.
After that debt is paid off, its payment is rolled into the debt with the next-highest interest rate. This process continues until all included debts are paid.
DEBT AVALANCHE EXAMPLE
Imagine that you have these debts:
• Credit card: $6,000 at 22% interest
• Personal loan: $4,000 at 10% interest
• Car loan: $12,000 at 6% interest
You would make the required minimum payment on all three debts while applying your extra payment to the credit card because it has the highest interest rate.
After paying off the credit card, you would roll that payment into the personal loan. The car loan would become the final target.
WHAT YOUR RESULTS MEAN
The calculator may show your total debt, estimated debt-free date, total monthly payment, estimated interest and monthly payoff schedule.
Use the results to compare different extra-payment amounts. Even a modest additional payment may change the estimated payoff date and interest cost.
AVALANCHE VERSUS SNOWBALL
The avalanche method prioritizes the highest interest rate and may reduce total interest costs.
The snowball method prioritizes the smallest balance and may provide faster motivational wins.
The best method is generally the one you can follow consistently while making all required minimum payments.
SAVING YOUR RESULTS
Select Save Progress to store your information in your current browser on your current device. Your debt information is not saved to an online Click and Go Tools account.
Saved information may be lost if you clear your browser data, use private browsing or switch devices.
Select Download CSV Schedule to save a copy of your estimated payoff schedule to your computer.
IMPORTANT NOTICE
Results are estimates for educational and planning purposes only. Actual lender calculations may differ because of payment timing, fees, changing rates and individual account policies.
This calculator does not provide financial, legal, tax or credit advice. Review your official account information and consider consulting a qualified professional before making important financial decisions.