Accelerated Debt Payoff Calculator

Accelerate the payoff of your debts by using the "rollover" method. As soon as the first debt is paid off use the freed-up payment amount to pay down the next debt faster. Continue the process until all debts are paid off. As you are about to see, the rollover method can save you a ton of money in interest charges and get you debt free in a very short period of time.

Instructions: Order your debts from highest interest rate to lowest interest rate to save the most money. The calculator pays them off in the order entered. Alternatively, you can order your debts from smallest balance to highest balance for the greatest emotional satisfaction – although it will cost you a little more. Enter the name, current balance, interest rate and minimum payment amount for all of your debts (up to a maximum of 10 debts). Next, enter a monthly dollar amount you could add to your accelerated debt payoff plan at the bottom right of the calculator. Then, click the "Calculate Results" button.

Note: If you include your mortgage in your Accelerated Debt Payoff Plan, be sure to enter only the principal & interest portion of your monthly mortgage payment (don't include monthly tax and insurance portion as that debt never gets paid off).