Debt Payoff Calculator

Add what you owe, see how long it'll actually take to clear it, and compare the snowball and avalanche methods side by side, rather than just picking one on faith.

Your debts

£

On top of the minimum payments above; this is what actually speeds things up.

Avalanche targets the highest interest rate first, cheapest overall. Snowball targets the smallest balance first, quicker early wins. Both are shown below either way.

Debt-free in
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Using your highlighted strategy

Avalanche
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Snowball
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Payoff order — highlighted strategy

Avalanche vs snowball, actually compared

Avalanche puts every spare pound toward the debt with the highest interest rate, regardless of its size. Mathematically, this minimises the total interest you pay: it's the cheapest route on paper.

Snowball puts every spare pound toward the smallest balance first, regardless of its interest rate. It usually costs a little more overall, but clears individual debts faster, which can matter more than the maths if momentum is what keeps you going.

Neither is "wrong"; see our Debt & borrowing, actually explainer for more on how to think about this.

What this doesn't include

  • Changes to interest rates. This assumes your current rates stay the same throughout; promotional 0% periods ending, or rates changing, aren't modelled.
  • New spending on these debts. This assumes no further borrowing on any of the cards or loans listed, just paying down what's there now.
  • Fees or charges beyond interest, such as late payment fees.

This calculator gives an illustrative estimate based on the figures you enter; it isn't personalised advice. If you're struggling with debt, free and impartial guidance is available from organisations such as MoneyHelper or StepChange.