How fast can you be out of debt?

Put in what you owe, the rate, and what you can pay each month. Then list your debts one by one and see whether paying the smallest balance first or the highest rate first gets you there sooner. The gap is usually smaller than people expect.

Paying $500 a month on $15,000 at 18.5%, you'd be debt-free in 3 years and 5 months and pay $5,291 in interest along the way.

What you'd still owe, month by monthBalance

How this is worked out

Interest is added monthly at the rate you give, then your payment comes off. With separate debts, every debt gets its minimum and whatever is left over goes to one target debt; when that one is gone, its minimum rolls onto the next. No fees, no new spending, no rate changes. Nothing you type leaves this page.

Snowball or avalanche

Math says one thing. Psychology says another.

Both orders get you out. The one that works is the one you keep doing.

SnowballIgnore the rates. List your debts from smallest balance to largest, pay the minimum on everything else, and put every spare dollar at the smallest one. It works because of quick wins: clearing that $500 card feels good and keeps you going.

AvalancheList your debts from highest interest rate to lowest and put the extra at the highest rate first. It is the cheapest path on paper: you pay less interest overall and finish a little sooner.

Doing nothingThe worst strategy is no strategy. Minimum payments are designed to keep you paying for decades. Adding $50 a month can take years off your payoff, and the note under the result shows exactly how many for your numbers.