Debt Payoff Tracker: See How Far You've Come

A debt payoff tracker answers two questions: how much of your debt is already gone, and when the rest will be. Enter your total debt when you started, what you owe today, what you pay toward debt each month and your average APR. The tracker below shows the percent paid off, the month you'll reach each milestone (25%, 50%, 75%) and your projected debt-free month. It runs in your browser and needs no account.

How to use the tracker

You need four numbers:

• Total debt when you started. The sum of all balances on the day you began your plan. If you don't remember, use the oldest statements you can find and pick that month as your starting point.
• Total debt today. Add up the current balances from your latest statements or lender apps. Use the payoff balance, not the original loan amounts.
• Paying toward debt per month. Everything you send to your debts in a normal month: all minimums plus any extra.
• Average APR. If your debts have different rates, a rough average is fine for a progress check. Weight it toward the bigger balances: a $10,000 card at 24% matters more than a $500 store card at 29%.

The tracker assumes you keep paying the same amount and charges interest at APR divided by 12 on the remaining balance each month. It's a progress check, not a debt-by-debt plan: it doesn't know which debt you're targeting first. For the order itself, use the debt snowball calculator or the debt avalanche calculator.

Example: $24,000 down to $15,500

The tracker opens with a sample: you started with $24,000 of debt, you owe $15,500 today, you pay $750 a month, and your debts average 16% APR.

You've paid off $8,500, which is 35%. The 25% milestone is already behind you. Here's what's ahead at $750 a month:

Getting from $15,500 to zero costs another $2,753.92 in interest along the way. Notice the pace: going from 35% to 50% covers $3,500 and takes 7 months, while each of the next two quarters covers $6,000 and takes 9. Payoff speeds up as the balance shrinks, because less of every $750 goes to interest and more goes to principal.

What a bigger payment does to the same debt:

An extra $100 a month moves your debt-free date 3 months closer and saves $376.56. At a 16% average APR, this month's interest on $15,500 is about $206.67, so the more you pay, the less of each payment goes to interest.

How to track your debt payoff

1. Pick a starting point and write down every debt: name, balance, APR, minimum payment and due date.
2. Add up the balances. That's your starting total, and it doesn't change.
3. Choose a payoff order (snowball, avalanche or another method) and decide how much extra you can pay every month.
4. Each time you pay, log the date, the amount and which debt it went to.
5. Once a month, when statements arrive, update each balance and note the interest charged.
6. Recalculate your total, percent paid off and projected debt-free month.
7. Celebrate milestones: the first debt closed, 25%, 50%, 75%, and the last payment.

The monthly update in step 5 matters most. Balances on statements already include interest, fees and any new charges, so they tell you the truth even if you missed logging a payment.

What to log each month

A useful debt log is short. For each payment:

• Date and amount. Enough to prove the payment happened and to spot late ones.
• Which debt. Especially for extra payments, which should go to your target debt.
• Balance after the statement. The number that really measures progress.
• Interest charged. Watching it shrink month after month is its own motivation, and it shows whether your extra money is hitting the right debt.

Also note anything unusual: a skipped month, a rate change, a new charge on a card you're paying down, or a windfall you put toward debt. When your projected date slips, these notes tell you why.

Milestones that keep you going

Percent paid off is the headline, but it moves slowly on a big balance. A few other markers make progress visible sooner:

• First debt paid off. With the snowball, this can come within a few months. It's also the moment your freed-up minimum rolls into the next debt.
• Interest under a round number. The first month your total interest charge drops below $200, then $100.
• Months in a row with no missed payment. A streak is simple to keep and hard to break once it's long.
• Half the balance gone. The 50% mark is where the end usually starts to feel real.

Spreadsheet or app?

You can track debt payoff in a spreadsheet. Our free debt snowball template lists your debts with their monthly interest and snowball and avalanche order, and you can add a second tab as a payment log: date, debt, amount, balance after. The debt snowball spreadsheet article explains every column and where spreadsheets get painful, mostly the month-by-month rolling of freed-up payments.

A spreadsheet works if you enjoy it and open it every month. If you'd rather not build formulas, a debt payoff tracker app does the bookkeeping for you. The DelDebt planner is one option (we make it). It works on the web and as an iOS app, without an account, with your data stored on your device:

• Payment log. Mark each payment as made and see your history, progress and a streak of months without a missed payment.
• Reminders. Payment reminders in the app, plus an .ics calendar file for your calendar app, with reminders before each due date.
• Your plan, debt by debt. Snowball, avalanche, blizzard, cash flow or a custom order, with your debt-free date updated as you log payments.
• Checking against your statement. Compare the planner's interest with what your lender actually charged and adjust.

If you're comparing tools, see our honest look at the best debt payoff apps.

FAQ

What is a debt payoff tracker?

A debt payoff tracker is a tool, app or spreadsheet that records your payments and balances over time and shows how much of your debt you've paid off. Most also project the month you'll be debt-free if you keep paying the same amount.

Is there a free website to track credit card debt?

Yes. The tracker on this page is free and runs in your browser without an account. For card-by-card tracking with reminders, the DelDebt planner is also free to use without signing up.

How often should I update my debt tracker?

Log each payment when you make it, and update balances once a month when statements arrive. Monthly updates catch interest, fees and new charges that a payment log alone would miss.

Why is my payoff date moving later?

Usually because a balance grew: new charges, a missed or smaller payment, fees, or a rate increase. Compare this month's statement balance with last month's to find which debt changed.

Should I include my mortgage in the tracker?

It's up to you, but most people track consumer debt separately. A mortgage can take decades to pay off and dwarfs other balances, so including it makes progress on cards and loans hard to see.