Debt Payoff Calculator
Compare snowball and avalanche strategies to get debt-free faster.
About this calculator
When you carry several debts at once, the order you pay them off in changes how fast you get free and how much interest you hand over. Two proven strategies dominate: the snowball and the avalanche. This calculator runs both on your actual balances so you can pick with your eyes open.
The debt snowball pays the minimum on everything, then throws every spare dollar at the smallest balance first. Clearing a whole debt quickly gives a motivating psychological win, and the freed-up payment rolls into the next debt like a growing snowball. The debt avalanche instead targets the highest interest rate first, which is mathematically optimal — it always minimizes total interest paid.
In practice the avalanche saves the most money, while the snowball keeps more people motivated enough to actually finish. This calculator shows both the payoff time and the total interest for each method, so you can weigh the dollar savings of the avalanche against the momentum of the snowball and choose the plan you will actually stick with.
Frequently asked questions
Which is better, snowball or avalanche?
The avalanche always costs less interest. The snowball often wins in real life because the early quick wins keep people committed. Pick the one you will follow through on.
Should I pay minimums on all debts?
Yes — always cover every minimum to avoid fees and credit damage, then direct any extra money to the target debt for your chosen strategy.
Does a higher extra payment really help that much?
Enormously. Because the extra goes to principal, even a modest increase compounds into months saved and significantly less interest paid overall.
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⚠️ Results are estimates based on constant balances and rates. They do not include new charges, fees or promotional rate changes.