Debt Payoff Calculator
Enter your debts and any extra monthly payment to compare the snowball and avalanche strategies side by side — see which gets you debt-free sooner and saves the most interest.
How it works
Both strategies run a monthly simulation loop: accrue interest on each balance, apply minimum payments across all debts, then direct extra funds to the priority debt. The loop continues until all balances reach zero. Snowball sorts by ascending balance; avalanche sorts by descending APR. Total interest is the sum of all monthly interest charges across the entire payoff period.
Frequently Asked Questions
What is the debt snowball method?
The snowball method pays off debts in order from smallest balance to largest, regardless of interest rate. Once the smallest debt is paid off, you roll its payment into the next smallest — like a growing snowball. It provides quick psychological wins that help many people stay motivated.
What is the debt avalanche method?
The avalanche method targets the debt with the highest interest rate first. This minimizes total interest paid and gets you out of debt faster in pure math terms. However, if the highest-rate debt has a large balance, it can take longer to see your first payoff milestone.
Which method is better?
Mathematically, avalanche saves more money. Behaviorally, snowball keeps more people on track. The best method is the one you will stick with. Use this calculator to see the exact dollar difference — if avalanche only saves a small amount and snowball gives you quicker wins, snowball may be the smarter choice for you.
What counts as extra monthly payment?
Extra payment is any amount above the sum of all minimum payments. You apply it to your priority debt (smallest for snowball, highest-rate for avalanche). Even $50–$100 extra per month can shave years off your payoff timeline and save thousands in interest.