Debt Payoff Calculator
Compare the snowball and avalanche methods side by side to see which clears your debt faster and for less interest.
Debt Snowball
Debt Avalanche
How it works
Enter each debt's balance, interest rate, and minimum payment (you can leave Debt 2 and 3 blank if you only have one). Add any extra amount you can put toward debt each month, and the calculator simulates both strategies month by month: debt snowball targets the smallest balance first for quick wins, while debt avalanche targets the highest interest rate first to minimize total interest. As each debt is paid off, its minimum payment automatically rolls into the next target debt.
Frequently asked questions
What's the difference between snowball and avalanche?
Debt snowball pays off the smallest balance first for quick psychological wins. Debt avalanche pays off the highest interest rate first, which usually saves the most money overall.
What happens to a debt's minimum payment once it's paid off?
That freed-up minimum payment automatically rolls into your extra payment toward the next priority debt, speeding up the rest of your payoff.