Debt Payoff Calculator
Compare Snowball (pay smallest balance first) vs Avalanche (pay highest APR first) debt payoff strategies. See months to debt-free, total interest paid, and payoff order.
How to use
- 1Enter your debts (name, balance, APR%, minimum payment)
- 2Set your extra monthly payment amount
- 3Instantly compare Snowball vs Avalanche results
- 4The winner banner shows how much Avalanche saves vs Snowball
- 5Add or remove debts as needed with the +Add Debt button
Frequently Asked Questions — Debt Payoff Calculator
What is the Snowball method?+
You list debts from smallest to largest balance and pay extra toward the smallest first. Once paid, roll that payment to the next. It's psychologically motivating because you see quick wins.
What is the Avalanche method?+
You focus on the highest-APR debt first. Mathematically optimal — you pay less total interest. But takes longer to see your first debt paid off.
Which method is better?+
Avalanche saves more money mathematically. Snowball keeps you motivated. If you struggle with motivation, Snowball is better in practice. If you can stay disciplined, choose Avalanche.
What is APR?+
APR (Annual Percentage Rate) is the yearly interest rate charged on your debt. Find it on your credit card or loan statement.