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The Cash Navigator

Debt Payoff Calculator

See how long it takes to pay off your debt and how much interest you save by paying extra each month.

Your Debt Details

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Payoff Comparison

Minimum Payment Only

$200.00/month

Payoff Time5 yr 7 mo
Total Paid$13,400.00
Total Interest$5,400.00

With Extra Payment

$300.00/month

Payoff Time3 years
Total Paid$10,800.00
Total Interest$2,800.00

By paying an extra $100.00/month, you'll pay off your debt 2 yr 7 mo sooner and save $2,600.00 in interest.

Frequently Asked Questions

What is the avalanche vs. snowball method?

The avalanche method pays off the highest-interest debt first, saving the most money. The snowball method pays off the smallest balance first, building momentum. Mathematically, avalanche wins — but snowball can be more motivating.

How much does an extra $100/month matter?

On a $10,000 credit card at 20% APR with a $250 minimum payment, adding $100/month cuts payoff time from ~62 months to ~38 months and saves over $2,400 in interest.

Should I pay off debt or invest?

If your debt interest rate is higher than your expected investment return (typically 7%), pay off debt first. Always capture your full 401(k) employer match first — that's a guaranteed 50–100% return.

What is a minimum payment trap?

Credit card minimum payments are designed to keep you in debt as long as possible. On a $5,000 balance at 20% APR, paying only the minimum (~$100) could take over 30 years and cost more than $9,000 in interest.