Debt Payoff Calculator

Compare avalanche and snowball strategies side by side. See your debt-free date and how much you'll save.

Your debts

Total $8,500

$

On top of your minimums. Total going to debt: $500/mo

Debt-free by

May 2028

1 yr 8 mo from now, $1,440 in interest

Avalanche

Lowest interest

Highest interest rate first

Debt-free by
May 2028
Total interest
$1,440
Time to $0
1 yr 8 mo

Snowball

Smallest balance first

Debt-free by
June 2028
Total interest
$1,757
Time to $0
1 yr 9 mo

Avalanche saves $317 in interest

Avalanche usually costs the least. Snowball clears a balance sooner, and those early wins keep a lot of people going. The plan you stick with is the one that works.

Your extra $200/mo gets you there 1 yr 8 mo sooner and saves $1,894 in interest compared with paying minimums only.

Payoff order (avalanche)

  1. 1Credit cardMay 2028
  2. 2Car loanMay 2028

Track your debt ratio

Watch your debt shrink and your net worth grow, all in one place.

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The Avalanche Method

Pay minimum payments on all debts, then throw every extra dollar at the debt with the highest interest rate. When it's paid off, roll that payment to the next highest rate. This method saves the most money in total interest and is mathematically optimal.

The Snowball Method

Pay minimum payments on all debts, then throw every extra dollar at the smallest balance. When it's paid off, roll that payment to the next smallest. This method costs slightly more in interest but has higher completion rates because quick wins build psychological momentum.

Which Strategy Is Right for You?

If you're motivated by math and can stay disciplined for months without a "win," use avalanche. If you need momentum and visible progress to stay motivated, use snowball. The best strategy is the one you'll actually complete. A plan you finish beats a perfect plan you set aside.