Debt Payoff Calculator

Snowball (smallest debt first) vs avalanche (highest interest first).

Debt 1 name Debt 1 balance ($) Debt 1 APR (%) Debt 2 name Debt 2 balance ($) Debt 2 APR (%) Monthly payment you can afford ($)

Snowball: debt-free in , interest paid

Avalanche: debt-free in , interest paid

Best method:

Total debt over time

How to use this calculator

Enter two debts (name, balance, APR) and your monthly budget, then press Calculate. The tool compares the snowball and avalanche methods and shows which is faster and cheaper with a payoff chart.

Worked example

Two cards, one at $5,000 and 24% APR and another at $2,000 and 18%, with $300 a month to throw at them. Avalanche pays the 24% card first, killing the most expensive debt fastest and costing the least interest overall. Snowball pays the $2,000 card first for an early win and momentum. The tool shows how long each strategy takes.

What the result means

Both methods pay minimums everywhere and put every extra dollar on one target. The difference is which target: the highest rate (avalanche, cheapest) or the smallest balance (snowball, most motivating).

Which should you choose?

Avalanche: mathematically optimal - least total interest and fastest payoff.
Snowball: behaviorally powerful - early wins keep you going if you struggle with motivation.
For most people the best method is the one they will actually stick to.

Frequently asked questions

Is the avalanche method always better?

It costs less on paper. But if clearing a small balance first keeps you motivated, the snowball's slightly higher interest is a price worth paying for follow-through.