Debt Payoff Calculator — Snowball vs Avalanche
Compare the debt snowball and avalanche methods side by side. Add your debts, set an extra payment, and see your debt-free date, total interest, and exact payoff order.
Your Debts
| Debt | Balance | APR % | Min / mo | |
|---|---|---|---|---|
Total balance: $36,000
Payoff Order — Avalanche
- 1Credit Cardpaid off in 1y 9m (Feb 2028)
- 2Car Loanpaid off in 2y 10m (Mar 2029)
- 3Student Loanpaid off in 4y 3m (Aug 2030)
Latest Rate & Debt News
Fed holds rates at 4.25–4.50% — May 23 week: next FOMC is June 17–18, first rate cut still consensus-priced for September 2026
Reuters · 2026-05-23 · Policy
Best personal loan rates week of May 23: LightStream 7.29%, SoFi 8.94%, Discover 10.99% — compare APR not headline rate for accurate EMI
NerdWallet · 2026-05-22 · Personal Loan
Rates are indicative and updated weekly. This tool is for planning only and is not financial advice.
About This Tool
See both payoff methods, then pick your plan
Most calculators only run one method. This one simulates the debt snowball and debt avalanche at the same time, so you see exactly how much interest and how many months each one saves.
Add an extra monthly payment and watch your debt-free date move closer. The payoff order shows which debt to attack first and when each one disappears.
Side-by-Side
Snowball vs avalanche compared in real time.
Debt-Free Date
See the exact month you'll be debt-free.
Payoff Order
A numbered plan: which debt to clear first.
Extra Payment
See how an extra $100–$200/mo accelerates payoff.
5 Currencies
USD, GBP, EUR, CAD and AUD supported.
Live Rate News
Weekly-updated rate and debt news.
Quick Start
How to Build Your Debt-Free Plan
List Your Debts
Add each debt's balance, APR, and minimum payment. Add or remove rows freely.
Set Extra Payment
Enter the extra amount you can pay each month above the minimums.
Compare Methods
See snowball and avalanche side by side — interest and time saved.
Follow the Order
Pick a method and work down the numbered payoff order.
Snowball vs Avalanche
Which Method Should You Use?
❄️ Debt Snowball
Pay the smallest balance first. You clear whole debts quickly, which feels motivating and keeps you going. Best if you’ve struggled to stay consistent and need early wins.
🏔️ Debt Avalanche
Pay the highest APR first. You pay the least total interest and usually become debt-free soonest. Best if you want the mathematically cheapest route and can stay disciplined.
FAQ
Frequently Asked Questions
Pay minimums on every debt and throw all extra money at the smallest balance first. When it's cleared, roll that payment onto the next-smallest debt. It clears debts quickly for motivation, but usually costs slightly more interest than avalanche.
Pay minimums on every debt and direct all extra money to the highest-APR debt first. It minimises total interest and is usually the fastest, cheapest way to become debt-free.
Avalanche saves the most money; snowball can win in practice if you need the motivation of clearing whole debts. The calculator shows both so you can see the exact difference and pick what you'll stick with.
Minimums mostly cover interest, so balances barely move. Extra money goes straight to principal — and clearing one debt frees its payment to attack the next, which compounds your progress.
Yes. Add any mix of credit cards, car loans, personal loans, and student loans, each with its own balance, APR, and minimum payment.
The avalanche method (highest APR first) is fastest and cheapest; snowball (smallest balance first) is slower but more motivating. The calculator shows both side by side.
Enter each debt plus an extra monthly amount — the calculator simulates every month and shows the exact debt-free date for snowball and avalanche.
Yes — add your credit card as a debt with its balance, APR and minimum payment to see how long it takes to clear and how an extra payment speeds it up.
Yes. Completely free, no sign-up, no data stored. Calculations run entirely in your browser. For planning only — not financial advice.