Debt Payoff Calculator

Compare the Debt Avalanche (highest interest first) and Debt Snowball (lowest balance first) payoff strategies.

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Compare debt payoff strategies and see how fast you can become debt-free with our free debt payoff calculator, supporting both the snowball and avalanche methods across multiple balances.

Snowball vs Avalanche

The avalanche method pays extra toward the highest-interest debt first. The snowball method pays extra toward the smallest balance first. Both apply minimum payments to all other debts while focusing extra payments on one target debt at a time.

How to Use This Calculator

  1. Enter each debt's balance, interest rate, and minimum payment
  2. Enter any extra amount you can pay monthly
  3. Choose snowball or avalanche
  4. Click Calculate to see your payoff timeline and total interest for each strategy

Frequently Asked Questions

Which method saves more money?

The avalanche method mathematically minimizes total interest paid, since it targets the highest rate first.

Why would anyone choose snowball over avalanche then?

Snowball builds psychological momentum by eliminating smaller debts quickly.

Can I switch strategies partway through?

Yes, nothing prevents switching, though sticking with one method typically produces more predictable results.

Does this account for variable interest rates?

This calculator assumes fixed rates for simplicity; if your rates are variable, treat the results as an estimate.