Debt payoff calculator
See how quickly you can become debt-free using the avalanche (highest interest first) or snowball (lowest balance first) method.
Your debts
Debt 1
Debt 2
Debt 3 — optional
Payoff method
Avalanche minimises total interest paid — mathematically optimal.
Calculations assume fixed interest rates and consistent monthly payments. Actual payoff times may vary based on rate changes, payment timing, and compounding method used by the lender.
Debt-free in
3 yrs 8 mo
Total interest paid
$4,986
Total debt
$28,000
Your extra $200/mo saves $5,644 in interest and cuts 2 yrs 1 mo off your payoff timeline.
Remaining balance by year
Need a full debt strategy?
Jatinder can help you balance debt repayment against RRSP contributions and savings — so you make progress on both fronts at once.
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