Debt Payoff Calculator

#	Debt Name	Remaining Balance	Monthly Payment	Interest Rate (%)	Action

Extra Payments:

per month

per year

of one-time payment made during the th month

Fixed Total Amount Towards Monthly Payment?

Yes No

If "Yes" is chosen, after a debt has been paid off, the money that was being paid to that specific debt will be distributed towards paying off remaining debts; the total amount initially allotted to monthly payments will be fixed until all debts are paid off. If "No" is chosen, after a debt is paid off, the monthly payment for that particular debt will not be distributed towards paying off the remaining debts.

Debt Payoff Strategy:

Avalanche (Highest Interest First) Snowball (Smallest Balance First) Largest Balance First

Choose how extra payments should be applied after minimum payments are made. The Avalanche method typically saves the most money on interest.