Debt Payoff Calculator (Snowball vs Avalanche)
List your debts, add whatever extra you can pay each month, and compare the two popular payoff strategies side by side — how soon you’d be debt-free, and how much interest each one costs.
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Frequently asked questions
What’s the difference between the snowball and avalanche methods?
Both pay the minimum on every debt and put all spare money toward one debt at a time. Avalanche targets the highest interest rate first, which mathematically costs the least interest. Snowball targets the smallest balance first, which clears individual debts faster for quick, motivating wins.
Which method should I use?
Avalanche saves the most money. But snowball’s quick wins help many people stay motivated — and the best plan is the one you actually stick to. The calculator shows the real interest difference so you can decide if it’s worth it.
What counts as the “extra payment”?
Any amount above the combined minimums that you can put toward debt each month. The more extra you add, the faster everything is paid off under either method.
Does paying minimums only ever work?
If a debt’s minimum payment is less than its monthly interest, the balance grows instead of shrinking. The calculator will warn you if your payments can’t keep up.