Work out exactly when you'll be debt-free
Enter your balances, interest rates (APRs), and monthly payments. Compare the Snowball and Avalanche repayment strategies side-by-side to find your debt-free date.
Debt Meltdown Calculator
Add your debts below, choose a strategy, and watch your debt stack melt down month by month.
Your Debts
Avalanche Payoff Milestones
How This Calculator Works
This calculator organizes your accounts into a mathematical schedule. By allocating your minimum payments across all debts and concentrating any extra monthly funds on one target account, you accelerate principal reduction. Once the target account balance reaches zero, its payment is rolled into the next account.
Snowball vs. Avalanche Strategies Explained
The Debt Snowball method targets the debt with the smallest balance first, giving fast psychological momentum by clearing accounts early. The Debt Avalanche method targets the debt with the highest interest rate (APR) first, which mathematically minimizes the total interest you pay over the life of your debts.
Why Extra Payments Make a Powerful Difference
Adding even a modest extra monthly amount (£25, £50, or £100) speeds up repayment significantly. Extra payments directly reduce the principal balance, preventing future compound interest from accruing on that amount.