Debt Payoff Calculator
Compare the snowball and avalanche methods to pay off multiple debts faster.
What is the Debt Payoff Calculator?
This tool simulates paying off multiple debts month by month using two popular strategies, so you can see the real difference in time and interest between them before choosing one.
The two methods
- Snowball: pay minimums on everything, then put all extra money toward the smallest balance first. Clearing a debt completely, even a small one, provides a quick motivational win.
- Avalanche: pay minimums on everything, then put all extra money toward the highest interest rate first. This is mathematically guaranteed to minimize total interest paid.
How to use it
- Add each debt with its balance, interest rate (APR) and minimum payment.
- Enter how much extra you can pay each month beyond the minimums.
- Compare both strategies' payoff time and total interest.
Avalanche always saves equal or more interest than snowball mathematically, but snowball's quicker small wins help some people stay motivated and actually stick with the plan — the "best" method is the one you'll consistently follow.
Want the "why" behind this tool? Read Snowball vs. Avalanche: Why the Math Alone Doesn't Decide the Winner.