usefulweb.appDependable little tools for people and AI agents. Ledgerly Debt Payoff Planner
Theme: Auto

Theme

Apps Part of Ledgerly

Ledgerly Debt Payoff Planner

Avalanche vs snowball: your debt-free date, total interest and a month-by-month plan.

ISO code used for the labels, e.g. EUR, USD, GBP.

Debts (required)

One row per credit card or loan. Cards often have a minimum of a percentage of the balance (e.g. 2 %) with a fixed floor (e.g. 25): enter both; for a fixed payment leave the percentage at 0.

Debts
#DebtBalance owedAPR (% per year)Minimum per monthMinimum % of balance
1
2
3
4
More options

Only used for debts with a percentage minimum (credit cards). The fixed amount is the floor.

Gives the debt-free date as a month; leave empty to count months only.

☁ Sign in to save to your Google Drive

Try an example: · ·

More about this tool

How it works

Plans paying off several credit cards and loans: the avalanche (highest interest first), snowball (smallest balance first) or your own order with an extra monthly payment, compared with paying only the minimums. Shows the debt-free month, total interest, when each debt is gone, a month-by-month table and the minimum-payment trap of every card with a percentage minimum. Part of Ledgerly’s Debt & Growth.

  • Each month one twelfth of the APR is added to every balance as interest (rounded to the cent, as in the Loan Amortization Calculator’s schedule).
  • The monthly amount is fixed: the first month’s minimums plus your extra payment. Every debt gets its minimum; the rest goes to the first open debt in the payoff order. When a debt is paid off, its minimum rolls over to the next one.
  • Avalanche orders by interest rate (highest first), snowball by balance (smallest first), “your order” keeps the list order; ties keep the list order.
  • Percentage minimums are the percentage of the balance (or the month’s interest plus the percentage), never below the fixed amount and at least 1 unit of the currency. “Minimum payments only” pays each debt just its own minimum, so card payments shrink as the balance falls — the minimum-payment trap.

A plan, not financial advice: lenders calculate interest and minimums in different ways, and rates can change. Check your statements and talk to a free debt advice service if payments are hard to make.

Part of Ledgerly

  • Ledgerly Household finance & life-admin desk

    Budgets, bills, subscriptions, loans, contracts and deadlines on one private desk.

    Open Ledgerly

Related tools

How to use the Debt Payoff Planner

Plan paying off several cards and loans with the avalanche or snowball method, see your debt-free date and what paying only the minimums costs.

What it is for

When you owe money on a few credit cards and a loan, two questions matter: how long until you are debt-free, and how much interest you pay on the way. This planner answers both for up to 20 debts at once. You list each debt with its balance, interest rate (APR) and minimum payment, add whatever extra you can afford each month, and choose an order.

The avalanche order puts every spare euro on the highest interest rate first, which costs the least interest. The snowball order clears the smallest balance first, so you see a debt disappear sooner. You can also keep your own order. Whatever you pick, the planner also runs the other orders and a "minimum payments only" plan, so you can see the difference in months and money.

It does not negotiate rates or consolidate loans.

Worked example

You owe €3,000 on a credit card at 21.9 % (minimum 2 % of the balance, at least €25) and €2,400 on a car loan at 6.5 % (€160 a month). You can add €100 a month and pick the snowball order.

  • Paid per month: €321.10 — the first month's minimums (€61.10 + €160) plus your €100. This amount stays the same until you are done.
  • Debt-free in: 1 year 8 months, with €889.30 interest.
  • Order: the car loan goes first (smaller balance) and is gone after 10 months; then its €160 rolls over to the card.
  • Strategies compared: avalanche finishes in the same 1 year 8 months but costs only €771.04 interest — €118.26 less. Snowball clears its first debt after 10 months, avalanche after 1 year 4 months.
  • Minimum payments only: 45 years 8 months and €17,306.75 interest.

The last line is the minimum-payment trap. The card's minimum is 2 % of a shrinking balance, so the payment shrinks too and the debt drags on for decades. Keeping the first minimum of €61.10 fixed would clear the card in 10 years 6 months with €4,648.93 interest.

How to read the result

  • Debt-free in is the headline. Enter a first payment month (for example 2026-12) and you get the calendar month as well.
  • Strategies compared lists avalanche, snowball, your order and minimums only side by side, with total interest, total paid and the order used.
  • Your debts in payoff order shows when each debt is gone and how much interest it cost.
  • The chart shows the total balance month by month; a dashed line marks your debt-free month.
  • The month by month table lists payment, interest, principal and what is left, and names the debt that was paid off that month.

Tips and common mistakes

  • Enter the balance from your latest statement, not the original loan amount.
  • For cards, enter both the percentage and the floor amount from your card terms. If your card charges "interest plus 1 %", switch the percentage rule to that option.
  • Keep paying the same total each month. The plan only works because cleared payments roll over to the next debt.
  • If the gap between avalanche and snowball is small, pick the one you will actually stick to.
  • A warning that a fixed minimum is "not more than the first month's interest" means that debt never shrinks on its own. Talk to the lender or a free debt advice service.

FAQ

Why does my statement differ by a few cents?

The planner charges one twelfth of the APR each month and rounds to the cent. Many lenders charge daily interest and use statement dates, so small differences are normal.

Can I add a one-off payment?

Not directly. Lower the balance of that debt by the amount you plan to pay and rerun the plan.

What does "never" mean?

The payments do not cover the interest, so the balance does not fall within 100 years. Raise the extra payment until a date appears.

Is this financial advice?

No. It is a calculator that shows its maths. Check your lender's terms before you change how you pay.

Guide last updated:

For scripts and AI agents

  • JSON API: POST https://ledgerlydebtpayoff.usefulweb.app/api/v1/calculate (same calculation as this page)
  • Interface description: OpenAPI 3.1 · AI guide: llms.txt
  • MCP server (Streamable HTTP): https://ledgerlydebtpayoff.usefulweb.app/mcp · tool name ledgerly_debt_payoff
Example request
curl -s -X POST https://ledgerlydebtpayoff.usefulweb.app/api/v1/calculate \
  -H 'content-type: application/json' \
  -d '{"currency":"EUR","debts":[{"name":"Credit card","balance":4200,"aprPercent":22.9,"minPayment":25,"minPercent":2},{"name":"Car loan","balance":2800,"aprPercent":6.9,"minPayment":240},{"name":"Store card","balance":650,"aprPercent":27,"minPayment":25,"minPercent":3}],"strategy":"avalanche","extraPerMonth":150,"startMonth":"2027-01"}'
Feedback · ideas & bug reports welcome