Debt Payoff Calculator
Two answers in one place: when your current payment clears the debt, and what payment would clear it by the date you want.
Your numbers
Everything is calculated in your browser. Nothing you type here is sent to Verdi or stored anywhere.
Debt-free in
4 years
paying $400 a month
- Total interest at this payment
- $4,937
- Payment to clear it in 2 years
- $684.81
- Interest on that faster plan
- $2,436
- Difference in interest
- $2,501
How to use this calculator
Pick a date, then work backwards
Most people find a deadline more motivating than a payment. Set the target payoff to a date that matters, read the required payment, and see whether your budget can reach it.
Order matters with multiple debts
With several balances, paying the highest interest rate first costs the least overall, while paying the smallest balance first produces quicker wins. Both work; the one you'll stick with is better.
Common questions
Snowball or avalanche?
Avalanche targets the highest rate first and mathematically saves the most interest. Snowball clears the smallest balance first for momentum. The difference in cost is often smaller than people expect.
Should I pay debt or save first?
A common approach is a small starter emergency fund, then aggressive payoff of anything above roughly 8–10% interest, then building savings back up. Your own risk tolerance matters here.
This calculator is an educational estimate based only on the figures you enter. Verdi does not provide financial, investment, tax, legal, credit or lending advice. Actual rates, fees, taxes and terms offered to you may differ.