Debt-Free Date Calculator
Your debt-free date is the month your last balance reaches zero, given your current minimums and whatever extra you pay. This calculator works it out month by month across every debt you list, rolling each paid-off minimum into the next debt, and shows the date in big type so you can put it on the fridge. It also shows the total interest paid between now and then.
The date moves more than most people expect. On the example debts, $150 extra a month brings the date forward by almost three years compared with minimums alone. The table underneath shows the effect of adding another $50, $100 or $250, so you can see exactly what a specific cut in spending buys you in months.
Results
Your debt-free date
July 2028
22 months from now, paying $1,826 in interest on $8,900 of debt.
Avalanche saves you $289 versus snowball, but your first debt clears in 21 months instead of 9. If early wins keep you going, snowball costs $289 extra for that.
At minimum payments only, these debts take 4 years 10 months and cost $4,999 in interest. With $200 extra a month you are debt-free in 22 months after $1,826 in interest.
Enable JavaScript to edit the numbers above and see your own plan, charts, and month-by-month schedule.
Frequently asked questions
How is the debt-free date calculated?
The calculator simulates each month: interest is added to every balance at APR divided by twelve, each minimum is paid, and the extra amount goes to the target debt in your chosen order. When a debt hits zero its minimum is added to the extra pool. The date is the month the last balance reaches zero, counting from the current month.
Does the order I pay debts change the date?
Usually only slightly. Snowball and avalanche typically finish within a month of each other because the total monthly outlay is the same; what changes is the interest total and which debt clears first. Avalanche is never later than snowball, and the difference in date is rarely more than a month or two.
What if I get a bonus or tax refund?
Open the Advanced section and add it as a lump sum in the month you expect it. A single $1,000 lump early in the plan usually moves the date by several months, because it removes principal that would otherwise be charged interest for the rest of the plan. Early lumps matter more than late ones.
Why is the date so far away when I pay only minimums?
Because minimums are set to just above the interest, so almost nothing goes to principal. On typical card rates a minimum-only plan takes 15 to 30 years. Every dollar above the minimum goes straight to principal, which is why even a small extra payment pulls the date forward dramatically.
Can I share or save my date?
Yes. Copy link to this plan creates a link that contains your numbers; open it on any device to see the same date and schedule. Nothing is stored on our servers. Your inputs are also remembered in this browser until you press Clear my data.