Debt Payoff Calculator

The monthly budget is the total for all debts, including their minimums; it is not just an extra payment. Interest accrues first and fixed minimums are paid on each balance. Remaining money goes to the priority debt. When one is paid off, the budget stays fixed and money becomes available for the others, including within the same month.

Avalanche prioritizes the highest nominal annual rate. Snowball prioritizes the smallest remaining balance after interest and minimums; ties follow entry order. Both are compared with the same budget. Savings can be negative if you selected the more expensive strategy.

Monthly interest = balance × nominal annual rate / 1,200, rounded to cents; payments also settle to two decimals in the selected currency. New purchases, fees, arrears, variable rates and percentage minimums are excluded: enter a fixed monthly minimum for this simulation. A budget below minimums is blocked; if payoff is not reached in 1,200 months the remaining balance is shown instead of an invented term.

Currencies cover Venezuela, Mexico, Spain, Colombia, the United States, Argentina, Chile, Uruguay, Paraguay, Peru, Bolivia, Ecuador, Costa Rica, the Dominican Republic and Brazil. These are universal financial calculations without exchange conversion or automatic national tax or benefit rules. Defaults are examples; rates are assumptions, not current quotes or guarantees.