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Calculator

How long will it take to pay off my debt?

See how long a debt takes to clear and how much interest it costs at your current payment — and what an extra bit a month does.

What you owe on this debt today.

The annual rate on the card or loan.

What you pay toward it each month.

$6,000 at 22% APR, paying $250/month, clears in 32 months — about $1,979 in interest.

Months to payoff
32 months (2y 8m)
Total interest
$1,979
Total you'll pay
$7,979

With more than one debt, the order matters. Avalanche (highest rate first) costs the least; snowball (smallest balance first) builds momentum. OneTruth Money tracks the payoff either way.

Compare snowball vs avalanche

How to use the debt payoff calculator

  1. Enter the balance and rate. Use the current balance and the APR printed on the statement.
  2. Enter your monthly payment. If the payment barely beats the interest, even a small increase shortens the timeline a lot.
  3. Choose an order for multiple debts. Avalanche pays the highest rate first to save the most; snowball clears the smallest balance first to build momentum.

OneTruth Money

Want this to just happen?

With more than one debt, the order matters. Avalanche (highest rate first) costs the least; snowball (smallest balance first) builds momentum. OneTruth Money tracks the payoff either way.

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