Debt Payoff Calculator (Snowball vs Avalanche)

With the snowball method you pay minimums on every debt and throw all extra money at the smallest balance first. When it's gone, you roll its payment into the next-smallest. It builds momentum with quick early wins, which keeps many people motivated even though it isn't always the cheapest path.

With the avalanche method you pay minimums on everything and direct extra money to the debt with the highest interest rate first. This minimizes the total interest you pay and usually gets you debt-free fastest, though early progress can feel slower.

Avalanche saves the most money in interest. Snowball gives faster psychological wins by eliminating individual debts sooner. If the interest difference is small, the snowball's motivation can be worth it; if you have a high-rate debt, avalanche's savings can be substantial. This calculator shows both side by side.

Any amount above the minimums goes straight to principal, cutting both the payoff time and the interest. Raising your monthly budget even modestly often removes years from the timeline — adjust the budget above to see the effect.

Yes. Your total monthly budget must be at least the sum of every debt's minimum payment. Anything above that becomes the 'extra' that the snowball or avalanche strategy applies to your target debt.

Yes. The calculator accrues each debt's interest monthly on its remaining balance, applies the minimum payments, then directs the leftover budget to the snowball or avalanche target — simulating the real payoff month by month.