How long will it take to pay off my debt?

It depends on the balance, the interest rate and your monthly payment. Example with hypothetical numbers: a $5,000 balance at 18% APR with $200 a month is paid off in about 2 years and 8 months, with about $1,314 in interest. That assumes a fixed rate and no new charges.

Should I use avalanche or snowball?

Avalanche (highest interest first) saves the most money. Snowball (smallest balance first) builds momentum. Your Money Type often predicts which you'll stick with.

Does this include multiple debts?

This version models one balance for clarity. Use it to understand one card or loan, then repeat for others.

Debt Payoff Calculator: When Will I Be Debt-Free?

Debt payoff timeline

Debt-free in

2y 8m

$1,314 interest

Current balance

Interest rate (APR)

Monthly payment

Debt-free in

2y 8m

Total interest paid: $1,314

Balance left

Paying $200 a month, the balance reaches zero in 2y 8m, with $1,314 paid in interest.

Save your results

The details behind your number

Where your money goes

Everything you pay, split between the debt itself and interest.

Principal (the debt)$5,000 (79%)
Interest$1,314 (21%)

Total you pay$6,314

Your payoff at a glance

Interest share of your first payment: 38%; $75 of $200 goes to interest.
Total paid: $6,314
Debt-free: in 32 months; 2y 8m

What if you paid more?

Each extra dollar goes straight to the balance.

Payoff time and interest at different monthly payments
Monthly payment	Debt-free in	Total interest	Interest saved
$200 (yours)You	2y 8m	$1,314	Your plan
$250 (+$50)	2 years	$989	$325
$300 (+$100)	1y 8m	$797	$517
$400 (double)	1y 2m	$579	$735
$450 (+$250)	1y 1m	$511	$803

Year by year

Show the full schedule

Debt payments by year
Year	Paid	Interest	Principal	Balance left
Year 1	$2,400	$770	$1,630	$3,370
Year 2	$2,400	$451	$1,949	$1,421
Year 3	$1,514	$93	$1,421	$0

Your next step

Same numbers, different first step

Two people can get this exact result and need totally different first steps. Your Money Type tells you which one is yours.

Find my Money TypeFree, about 2 minutes

Already know yours?

Plan with Fifecta? Ask your numbers in Claude

How It Works

01
Enter your current balance and the interest rate (APR).
02
Set the monthly payment you can make.
03
See your debt-free date and the total interest, then try a bigger payment to compare.

The 4 Money Types

The Math Is the Same. Your First Step Isn't.

Spenders, Savers, Scramblers, and Strategists each need a different first fix. The free quiz tells you which type you are, so you know what to do with this number.

Find My Money Type

Common questions

: It depends on the balance, the interest rate and your monthly payment. Example with hypothetical numbers: a $5,000 balance at 18% APR with $200 a month is paid off in about 2 years and 8 months, with about $1,314 in interest. That assumes a fixed rate and no new charges.
: Avalanche (highest interest first) saves the most money. Snowball (smallest balance first) builds momentum. Your Money Type often predicts which you'll stick with.
: This version models one balance for clarity. Use it to understand one card or loan, then repeat for others.

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Debt Payoff Calculator