Debt Payoff Calculator: Snowball vs. Avalanche
List your debts, add what you can pay on top of the minimums, and see your debt-free date. The calculator runs both popular payoff methods side by side, the debt snowball (smallest balance first) and the debt avalanche (highest interest first), and shows how much each one costs, the order to pay your debts in, and how much faster you’ll finish than paying minimums only.
How it works
- Each month, interest is added to every balance at its APR ÷ 12.
- Every debt gets its minimum payment. Your extra amount goes to the current target debt.
- When a debt is paid off, its minimum rolls over to the next target, so your total payment stays the same and the plan speeds up as you go.
- The “minimums only” comparison pays each debt its own minimum with no rollover and no extra.
A worked example
Take $22,700 of debt: a $6,500 credit card at 22.9%, a $1,200 store card at 26.9%, an $11,000 car loan at 7.5% and a $4,000 personal loan at 12%. The minimums total $640 a month. Adding $200 a month and using the avalanche, you’re debt-free in 2 years 8 months and pay $4,092 in interest. The snowball takes one month longer and costs $381 more. Paying minimums only would take over 6 years and cost $8,797 in interest, so the $200 a month saves about $4,700. Another $100 a month would save a further $686 and 4 months.
Make your plan work
- Stop adding to the pile. The plan assumes no new borrowing. Pause the cards while you pay them off.
- Attack the rates. A 0% balance transfer or a cheaper consolidation loan can cut the interest a lot. Check the fees and the rate after the offer ends.
- Find the extra. A zero-based budget gives every dollar a job, including the extra payment.
- Know when to break the rules. Read when high-interest debt should jump the snowball.
These calculators are for education, not financial advice: we are not financial advisors, and your situation may differ. For big decisions, talk to a fee-only financial planner.
Frequently asked questions
What is the difference between the debt snowball and the debt avalanche?
Both pay the minimum on every debt and put all your extra money on one target. The snowball targets the smallest balance first, so you clear debts quickly and stay motivated. The avalanche targets the highest interest rate first, which costs less in interest. When a debt is paid off, its payment rolls onto the next target.
Which method should I use?
The avalanche is cheaper on paper, but the gap is often small, and the calculator shows you exactly how small for your debts. If quick wins will keep you going, the snowball is a fine choice. The worst plan is the one you give up on.
Why does paying only the minimums take so long?
Minimum payments are often set barely above the monthly interest, so most of each payment goes to interest. On some cards the minimum doesn’t even cover the interest. The calculator flags any debt like that.
Should I build an emergency fund before paying extra on debt?
Many plans, including Dave Ramsey’s Baby Steps, start with a small starter emergency fund (often $1,000) so a surprise bill doesn’t go back on a card. Then put every spare dollar on the debt.
Is my information stored?
No. Everything is calculated in your browser, and nothing you type is saved on our server or sent anywhere. The share link keeps your numbers in the part of the web address after the # sign, which browsers do not send to the website.