Free Debt Payoff Calculator
Compare the snowball and avalanche payoff strategies side by side — enter up to 4 debts and see which gets you debt-free faster and cheaper.
Estimates only, not financial advice.
Snowball (smallest balance first)
Avalanche (highest rate first)
Frequently Asked Questions
What's the difference between snowball and avalanche?
Snowball pays minimums on everything and puts extra money toward the smallest balance first. Avalanche puts extra money toward the highest-interest-rate debt first. Both roll a paid-off debt's payment into the next target.
Which method saves more money?
Avalanche usually results in less total interest paid, since it eliminates the most expensive debt first. Snowball can be equal or slightly more costly, but it isn't always by much.
Why would I choose snowball if it can cost more?
Snowball is built around motivation — paying off a small balance quickly gives an early win that can make it easier to stick with a payoff plan. For many people, that consistency matters more than a modest difference in interest.
What if I don't have extra money to put toward debt?
Enter $0 for the extra payment to see your payoff timeline on minimum payments alone. Even a small extra amount can meaningfully shorten that timeline and reduce interest.
Is this financial advice?
No — this is an estimate for planning purposes only. It assumes fixed interest rates and consistent payments; real accounts can vary. Talk to a financial advisor or credit counselor for guidance specific to your situation.