Calculator
Example data table
These sample inputs illustrate how the allocation strategies differ.
| Debt | Balance | APR | Minimum payment | Suggested cap |
|---|---|---|---|---|
| Card A | $6,200 | 24.99% | $180 | $250 |
| Card B | $3,400 | 18.50% | $120 | $200 |
| Personal Loan | $9,500 | 11.20% | $210 | $300 |
Sample overpayment per period: $300.
Try Avalanche to reduce high-rate interest faster, or Snowball for quicker balance wins.
Formula used
Periodic rate
r = APR ÷ periods_per_year
For monthly frequency, periods per year is 12. For biweekly, it is 26. The calculator uses this periodic rate in payoff simulation.
Balance update per period
interest = balance × r
principal = payment − interest
new_balance = balance − principal
If principal becomes zero or negative, the balance will not decline. In that case, payoff time cannot be estimated until payments are increased.
Allocation strategies:
- Avalanche: assigns extra to the highest APR first (priority order).
- Snowball: assigns extra to the smallest balance first (priority order).
- Proportional: splits extra by balance or APR.
- Custom weights: splits extra by your weight values.
- Caps: optional limits that restrict extra to a maximum per debt; any remainder is redistributed when possible.
How to use this calculator
- Select your currency symbol and payment frequency.
- Enter the extra amount you can add each period.
- Choose an allocation strategy (Avalanche, Snowball, Proportional, or Custom).
- Pick how many debts you want to include.
- Fill in each debt’s name, balance, APR, and minimum payment.
- Optionally enable caps to limit extra per debt.
- Submit to see allocations, payoff timing, and interest savings.
Tip: If your minimum payment is too low to reduce a balance, increase that payment first. Then re-run allocation to compare strategies on a fair baseline.