How this calculator works & sources ↓
See how long a balance takes to clear at a fixed monthly payment, and how much of what you pay is interest.
Switching region updates the currency and swaps in typical starting figures for that country — every number stays fully editable.
See how long a balance takes to clear at a fixed monthly payment, and how much of what you pay is interest.
Want to turn this into a full plan? Grab the free Budgeting Checklist — a checklist plus 3 worksheets to put these numbers to work.
Get the free checklist →This approach, often called the avalanche method, minimizes total interest paid. Some people prefer the “snowball” method — paying off the smallest balance first for motivation — even though it can cost slightly more in interest overall.
This tool estimates payoff for a single debt at a time. For multiple debts, run each one separately and prioritize based on your chosen strategy.
Minimum payments are calculated to stay low, which extends your payoff time substantially and increases total interest paid — even a small extra payment each month can make a big difference.
Grab the free Budgeting Checklist below — a checklist plus 3 fill-in worksheets, delivered straight to your inbox.
Projects repayments from the balances, interest rates and payments entered. Assumes the stated rates and payments remain constant; actual interest calculations and fees can differ.
Sources and further reading: Uses the inputs you provide and the calculation assumptions described above.