Debt Payoff Calculator
Compare snowball and avalanche strategies to find the fastest way to pay off your debts.
Your Debts
$
Additional amount beyond minimum payments
You save with Either
$0
Both methods cost the same
Snowball Method
Pay off smallest balance first
Payoff Time
6 yr 10 mo
Total Interest
$11,670
Avalanche Method
Pay off highest rate first
Payoff Time
6 yr 10 mo
Total Interest
$11,670
Snowball vs Avalanche Comparison
Frequently Asked Questions
What is the debt snowball method?
The debt snowball method focuses on paying off the smallest debt first while making minimum payments on others. Once the smallest debt is paid off, you roll that payment into the next smallest. It provides quick psychological wins.
What is the debt avalanche method?
The debt avalanche method prioritizes debts with the highest interest rate first. This saves the most money in total interest paid, though it may take longer to see the first debt fully paid off.
Which debt payoff method is better?
The avalanche method saves more money on interest, while the snowball method provides faster motivational wins. The best method is the one you stick with. This calculator lets you compare both side by side.
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