Debt Snowball vs Avalanche Payoff Calculator
Enter your total debt, average interest rate, minimum payments, and any extra amount you can put toward payoff each month to see how the snowball and avalanche methods compare in time and interest saved.
About this calculator
Compare how long it takes and how much interest you'll pay to become debt-free using the snowball (smallest balance first) versus avalanche (highest interest first) payoff strategies.
Frequently Asked Questions
What's the difference between snowball and avalanche methods?
Snowball pays off the smallest balance first for psychological wins, while avalanche targets the highest interest rate first to minimize total interest paid.
Which method saves more money?
Avalanche typically saves more in total interest since it attacks the costliest debt first, though snowball can offer faster motivational wins by clearing accounts sooner.
Does this account for multiple different debts individually?
This calculator uses your average rate and rate spread as an approximation; for exact results, model each debt separately with its own balance and rate.