Debt
Debt Payoff Calculator
Compare avalanche vs snowball strategies to find the fastest and cheapest path to debt freedom.
Payoff timeline
3 yr 8 mo
Avalanche method
Total interest paid
$4,588.19
vs snowball
$412.52 saved
Your debts
| Name | Balance | APR % | Min payment | |
|---|---|---|---|---|
$ | $ | |||
$ | $ | |||
$ | $ |
$
Strategy
Debt payoff strategies
Avalanche method
Pay minimums on all debts, then put extra money toward the highest-APR debt. Mathematically optimal — saves the most interest.
Snowball method
Pay minimums on all debts, then target the smallest balance first. Provides psychological wins that help maintain motivation.
Which is better?
Avalanche saves more money. Snowball provides quicker visible progress. The best strategy is the one you'll stick to.
Extra payments
Even a small extra payment each month dramatically reduces payoff time. Redirect money freed up when one debt is paid to the next target.
For educational purposes only. Actual payoff may vary. Not financial advice.