Debt Payoff Calculator — Avalanche vs Snowball
Compare the Avalanche and Snowball debt payoff methods side-by-side. Add your debts, see total interest, payoff timeline, and an interactive chart showing your path to debt freedom.
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Your Debts
Amount above minimum payments you can put toward debt each month
🏔️ Avalanche Method
Pay highest interest rate first
Pay in this order:
Credit Card 1 → Credit Card 2 → Car Loan
⛄ Snowball Method
Pay smallest balance first
Pay in this order:
Credit Card 2 → Credit Card 1 → Car Loan
Avalanche saves you $190 in interest
Remaining Balance Over Time
How This Calculator Works
Enter all your debts with their balances, interest rates, and minimum payments. Set an extra monthly payment amount, and the calculator simulates both the Avalanche and Snowball methods month by month, showing you exactly how each strategy plays out — total interest paid, months to payoff, and remaining balance over time.
The Math Behind Debt Payoff
Each month, interest accrues on your remaining balances. Your minimum payments cover interest first, with the rest going to principal. The extra payment goes entirely to principal on the target debt (highest rate for Avalanche, smallest balance for Snowball). As each debt is paid off, its minimum payment "rolls" into the next target.
Tips for Faster Debt Payoff
- Increase the extra payment — even small increases have outsized effects due to reduced interest
- Call for rate reductions — ask your credit card companies for lower rates; worst they can say is no
- Balance transfer to 0% cards — if you can get a 0% intro APR offer, use it strategically
- Sell stuff you don't need — one-time windfalls accelerate your payoff dramatically
- Pick up extra income — dedicate side hustle earnings entirely to debt
Frequently Asked Questions
What's the Avalanche method?
The Avalanche method pays minimums on all debts, then throws every extra dollar at the debt with the highest interest rate. Once that's paid off, you roll that payment into the next highest rate. This saves the most money in interest — it's mathematically optimal.
What's the Snowball method?
The Snowball method pays minimums on all debts, then attacks the smallest balance first. Once that's paid off, you roll that payment into the next smallest. The advantage is psychological — quick wins keep you motivated. Dave Ramsey popularized this approach.
Which method is better?
Avalanche saves more money, Snowball provides faster psychological wins. Research shows Snowball works better for people who need motivation to stick with it. If you're disciplined and want to minimize interest, go Avalanche. The best method is the one you'll actually follow.
How much extra should I pay?
Any extra helps, but more is dramatically better. Even $50-100 extra per month can save thousands in interest and years of payments. Look at the comparison — try increasing the extra payment to see how much faster you become debt-free.
Should I consolidate instead?
Debt consolidation (combining debts into one lower-rate loan) can save money if you qualify for a significantly lower rate. But it only works if you stop adding new debt. If discipline is the issue, consolidation alone won't fix the problem.