A debt payoff calculator compares the snowball and avalanche repayment strategies. Enter your debts, interest rates, and monthly budget to see which method gets you debt-free faster and saves the most interest.
Debt Payoff Calculator
Compare the debt snowball and debt avalanche strategies to find the fastest and cheapest path to becoming debt-free.
Your Debts
| Name | Balance | APR (%) | Min Payment | |
|---|---|---|---|---|
$ | $ | |||
$ | $ | |||
$ | $ |
Debt Avalanche
RecommendedPay highest interest rate first — saves the most money
Debt Snowball
Pay smallest balance first — builds momentum with quick wins
Remaining Balance Over Time
- Avalanche
- Snowball
Snowball vs. Avalanche: Which Strategy Is Right for You?
Both the debt snowball and debt avalanche are proven strategies for paying off multiple debts. The key difference is the order in which you target your debts after making minimum payments on all of them.
Debt Avalanche
Focus extra payments on the debt with the highest interest rate first. This mathematically minimizes total interest paid and is the optimal strategy for saving money.
Debt Snowball
Focus extra payments on the debt with the smallest balance first. The psychological wins from eliminating debts quickly can boost motivation and adherence.
Key Takeaways
- The avalanche method always saves more money in interest, but the snowball method can be more motivating due to faster visible progress.
- Any extra payment above minimums dramatically accelerates debt payoff — even $50/month extra can save years.
- The best strategy is the one you will stick with. If motivation is your challenge, snowball may be better despite costing slightly more in interest.
- Consider consolidating high-interest debts into a lower-rate personal loan or balance transfer card to reduce total interest regardless of strategy.