Smallest balance first
Selected
26 months
Interest $1,044.50
Debt Payoff Planner
Add several debts, choose an order, and see the month each one is paid off. Extra payments and freed minimums move to the next debt.
Debt-free date
November 2028
Smallest balance first pays these debts off in 26 months.
- Total interest
- $1,044.50
- Months in this plan
- 26
- Medical bill is paid off in March 2027 (month 6).
- Store card is paid off in March 2028 (month 18).
- Car repair loan is paid off in November 2028 (month 26).
Highest rate first
Comparison
25 months
Interest $935.86
Use the payoff plan beside the balances in the calculator.
Smart Money HabitsShow month-by-month planHide month-by-month plan
Month-by-month plan
Each month pays the minimums, then sends extra money and any freed minimum to the next debt in the selected order.
Swipe sideways to see every column. Amounts are rounded to the cent.
| Month | Date | Payment | Interest | Principal | Balance | Paid off |
|---|---|---|---|---|---|---|
| 1 | Oct 2026 | $370.00 | $75.22 | $294.78 | $8,005.22 | None |
| 2 | Nov 2026 | $370.00 | $73.90 | $296.10 | $7,709.12 | None |
| 3 | Dec 2026 | $370.00 | $72.58 | $297.42 | $7,411.70 | None |
| 4 | Jan 2027 | $370.00 | $71.24 | $298.76 | $7,112.94 | None |
| 5 | Feb 2027 | $370.00 | $69.88 | $300.12 | $6,812.82 | None |
| 6 | Mar 2027 | $370.00 | $68.51 | $301.49 | $6,511.33 | Medical bill |
| 7 | Apr 2027 | $370.00 | $67.13 | $302.87 | $6,208.46 | None |
| 8 | May 2027 | $370.00 | $63.24 | $306.76 | $5,901.70 | None |
| 9 | Jun 2027 | $370.00 | $59.30 | $310.70 | $5,590.99 | None |
| 10 | Jul 2027 | $370.00 | $55.30 | $314.70 | $5,276.29 | None |
| 11 | Aug 2027 | $370.00 | $51.24 | $318.76 | $4,957.53 | None |
| 12 | Sep 2027 | $370.00 | $47.12 | $322.88 | $4,634.65 | None |
| 13 | Oct 2027 | $370.00 | $42.94 | $327.06 | $4,307.59 | None |
| 14 | Nov 2027 | $370.00 | $38.70 | $331.30 | $3,976.29 | None |
| 15 | Dec 2027 | $370.00 | $34.40 | $335.60 | $3,640.69 | None |
| 16 | Jan 2028 | $370.00 | $30.04 | $339.96 | $3,300.73 | None |
| 17 | Feb 2028 | $370.00 | $25.61 | $344.39 | $2,956.34 | None |
| 18 | Mar 2028 | $370.00 | $21.12 | $348.88 | $2,607.46 | Store card |
| 19 | Apr 2028 | $370.00 | $18.47 | $351.53 | $2,255.93 | None |
| 20 | May 2028 | $370.00 | $15.98 | $354.02 | $1,901.91 | None |
| 21 | Jun 2028 | $370.00 | $13.47 | $356.53 | $1,545.38 | None |
| 22 | Jul 2028 | $370.00 | $10.95 | $359.05 | $1,186.33 | None |
| 23 | Aug 2028 | $370.00 | $8.40 | $361.60 | $824.73 | None |
| 24 | Sep 2028 | $370.00 | $5.84 | $364.16 | $460.57 | None |
| 25 | Oct 2028 | $370.00 | $3.26 | $366.74 | $93.83 | None |
| 26 | Nov 2028 | $94.50 | $0.66 | $93.83 | $0.00 | Car repair loan |
How it's calculated
Each month adds interest to every balance, then applies that debt's minimum payment. Extra money, and any part of a minimum left after a debt is paid off, goes to one debt. The order is set from the balances and rates you enter, and it stays in that order. When a debt reaches zero, its minimum payment joins the extra amount for the next debt. The plan stops at 50 years if a balance is still left.
The two orders
Smallest balance first sends the extra payment to the lowest balance, then to the next lowest. Highest rate first sends it to the highest interest rate, then to the next highest. Both totals are shown so you can compare interest and months. A minimum that does not cover that month's interest is called out, because the balance can grow until a larger payment reaches it.
Reviewed by WH2L Digital. Last reviewed October 31, 2026.
Questions
What is the difference between the two payoff orders?
Smallest balance first sends extra money to the lowest balance, then to the next lowest. Highest rate first sends it to the highest interest rate, then to the next highest. The order is set from the balances and rates you enter and does not change later.
What happens to a minimum payment after a debt is paid off?
That minimum joins the extra amount and is paid toward the next debt in the order you chose. The same month, any part of the minimum left after the payoff also moves to the next debt.
Why does a minimum payment show a warning?
If a minimum is less than that month's interest, the balance can grow until a larger payment reaches it. The plan still runs, and it stops at 50 years if a balance remains.
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Educational estimates only, not financial advice.