Not sure whether to pay off your smallest balance first or your highest-interest debt? Enter your debts below and compare the debt snowball and debt avalanche methods side by side: months until you are debt-free, payoff date and total interest paid.
Debt Payoff Calculator: Snowball vs. Avalanche
Assumes fixed payments, interest charged monthly at APR/12, and no new charges. Freed-up minimum payments roll into the next debt. Estimates only; your lender’s exact figures may differ.
How to use this debt payoff calculator
- List each debt with its current balance, APR and minimum monthly payment (add up to eight).
- Enter the extra amount you can put toward debt each month on top of the minimums.
- Click Compare methods to see how long each strategy takes and how much interest it costs.
Debt snowball vs. avalanche: what is the difference?
The snowball method pays the smallest balance first and rolls each freed-up payment into the next debt, which delivers quick wins. The avalanche method pays the highest interest rate first, which minimizes total interest. Avalanche never costs more in interest, but snowball can be easier to stick with. We break down the trade-off in Debt Snowball vs. Avalanche: Which Payoff Method Is Actually Faster?
Example with the default numbers
Three debts totaling $12,000 (a $1,500 card at 15%, a $4,000 card at 24% and a $6,500 loan at 9%) with $300 extra per month: avalanche finishes in about 27 months with roughly $1,625 in interest, while snowball takes about 28 months and roughly $1,800. Avalanche saves about $175 here. The gap grows when your highest-rate balance is large.
Frequently asked questions
Which method should I choose? If the numbers are close, choose the one you will actually follow. If your highest-rate debt is large, avalanche usually saves meaningfully more.
Does the order change my credit score? Not directly. On-time payments and lower balances help your score regardless of which debt you finish first.
What if my payments never pay the debt off? If the minimums plus extra barely cover the monthly interest, the calculator will tell you the debt is not paid off within 50 years. Raise the payment or look at options such as a lower-rate consolidation loan, covered in our debt consolidation guide.
Sources: FTC: How to get out of debt
This calculator is for education and gives estimates only. It is not financial, tax or legal advice.