Debt Payoff Calculator

Compare avalanche vs snowball side-by-side. See your debt-free date.

Debt Payoff Calculator: Avalanche vs Snowball

This calculator compares two ways to aim extra money at a list of debts. Avalanche sends it to the highest interest rate. Snowball sends it to the smallest balance. Enter a balance, an APR, and a minimum for each debt, plus any extra you can pay every month. The debt-free month and the interest total update as you edit the rows.

The three debts already filled in are a sample, not your accounts. Change them, or add up to ten. Cards, personal loans, car loans, student loans, and medical bills all use the same boxes. The arithmetic runs in this browser after the page loads. Balances and rates are not uploaded with the request and are not kept for your next visit. How the math works is under the results, with a worked example and the limits of the model.

Enter Your Debts — Credit Cards, Loans & More

Debt Name Balance ($) Rate (%) Min Payment ($)
$0/mo

How a month is calculated

For each debt, the APR is divided by 12. Interest that month is the balance at the start of the month times that rate. The minimum is applied after interest is added, so the day you pay does not change the charge in this model. Whatever remains of the minimum after interest reduces the balance. If the minimum is larger than the balance plus interest, you pay only that amount and the debt is finished.

Extra money is aimed at one debt: the highest APR under avalanche, or the smallest balance under snowball. If that debt hits zero in the same month, leftover extra spills to the next debt in that order. The minimum from a finished debt joins the extra pile the following month, which is why later payments grow without new money from you. A row is included only when the balance and the minimum are both above zero. The schedule stops at 600 months if a payment never covers interest. The same loop, with a month where extra spills, is in How this calculator works.

A worked example you can check

Assumptions: the three sample rows already on this page, extra payment $0, minimums fixed at the dollar amounts below, APRs unchanged, and every month paid.

DebtBalanceAPRMinimum
Credit Card 1$8,00025%$200
Credit Card 2$4,00015%$100
Personal Loan$1,0007.5%$50

Month 1 is the same either way, because nothing extra is being aimed. Credit Card 1 is charged 8,000 × 0.25 / 12 = $166.67. The $200 minimum covers that and $33.33 of principal, leaving $7,966.67. Credit Card 2 is charged $50.00 and drops to $3,950.00. The loan is charged $6.25 and drops to $956.25. You pay $350, of which $222.92 is interest.

The loan's own minimum clears it in month 22 under both methods. Its $50 is free to aim starting in month 23. Avalanche sends it to the 25% card. Snowball sends it to Credit Card 2, the smaller balance still open.

AvalancheSnowball
Months until the last debt is gone6364
Total interest$8,801.76$9,057.54
Credit Card 2 paid offMonth 56Month 43
Credit Card 1 paid offMonth 63Month 64

The interest gap is $255.78. On screen those totals round to the nearest dollar: $8,802, $9,058, and a savings line of $256. Set extra to $100 and the aim matters from month 1. Avalanche finishes in 41 months and $5,136.06 of interest. Snowball finishes in 43 months and $5,997.53, which is $861.47 and two months more (the screen shows about $861). Against avalanche at $0 extra, that $100 saves $3,665.70 of interest and 22 months. Change a rate or a minimum and those dollars move.

When avalanche and snowball match

The methods are the same plan when they sort the debts into the same list: the smallest balance also has the highest APR, and the next-smallest has the next-highest. Extra money then hits the same debt either way.

Assumptions: $150 extra each month, fixed minimums, rates unchanged. Store card $900 at 27.99% with a $35 minimum; Visa $4,500 at 19.99% with a $110 minimum; auto loan $12,000 at 6.5% with a $280 minimum. Both methods finish in 35 months and charge $2,541.02 of interest (store card in month 6, Visa in month 23, auto loan in month 35). At $0 extra, both take 53 months and $4,989.74. The $150 moved the date. The method name did not. If your own comparison is that close, keep the order you will still follow on a tight month.

What this does not model

Many cards charge a daily rate on the average daily balance. This page charges balance × APR / 12 once a month. On a still balance the two are close; a mid-cycle purchase or payment pulls them apart. The interest guide compares both on a $2,400 balance at 22.99%. Grace periods are omitted, so a card you pay in full does not belong in the list. Also omitted: fees, a promo APR that expires, a penalty rate, biweekly payments, and a minimum that shrinks as the balance falls. If you will only pay that shrinking minimum, this plan reaches zero too soon. Type the dollars you actually intend to send. Which statement line is which is in reading a statement.

A transfer or consolidation loan is a second run, not a rate change in the middle of this loop. Add any fee to the starting balance and enter the new APR on its own. A transfer that costs less, one that costs more, and a loan that helps only while the payment stays up are in the transfer guide. An extra $50 through $200 on one set of debts is in the extra-payment guide.

Not financial advice

These dates and interest totals are estimates from your inputs and the rules above. They are not a credit decision, a tax opinion, or a recommendation to borrow, transfer, or skip a payment. The issuer's payoff quote is what clears the account. For a promo, a new loan, or a bill you cannot pay, talk with a nonprofit credit counselor or another qualified person. The contact page is only for questions about this website.

Guides on one question each

Avalanche vs snowball, with numbersThe sample debts, where the orders split, and a set where they are the same plan. How card interest is calculated monthlyAPR divided by 12, next to a 30-day average daily balance. What an extra $50 to $200 doesOne set of debts, five payment levels, and smaller savings at each step. Balance, APR, and minimum on a statementWhich line to type, and which nearby figures to leave out. Balance transfers and consolidationA transfer that costs less, one that costs more, and a loan payment that is allowed to drop. How this calculator worksThe month loop, when a finished minimum rolls forward, and the limits.

Debt Payoff FAQ — Common Questions

What is a debt payoff calculator? ▼
A debt payoff calculator estimates how many months a list of debts will take to pay off and how much interest you will pay. You enter each balance, APR, and minimum payment, plus any extra monthly amount. This one compares avalanche (highest APR first) with snowball (smallest balance first) and builds the schedule in your browser. The monthly formula is written out under the results and, in more detail, in How this calculator works.
How does the debt avalanche method work? ▼
The debt avalanche method prioritizes paying off debts with the highest interest rates first, while making minimum payments on all other debts. Once the highest-rate debt is paid off, you redirect that payment to the next highest-rate debt. This method minimizes the total interest you pay over time. According to Wells Fargo, the avalanche approach focuses on the highest interest rate first.
How does the debt snowball method work? ▼
The debt snowball method prioritizes paying off debts with the smallest balances first, regardless of interest rate. After the smallest debt is eliminated, you apply that payment to the next smallest balance. This approach provides quick psychological wins that help you stay motivated throughout your debt payoff journey. Ramsey Solutions popularized this method as a behavior-first approach.
Which is better — debt avalanche or debt snowball? ▼
The debt avalanche method always saves the most money on interest because it targets high-rate debts first. However, the debt snowball method may keep you more motivated because you see debts eliminated faster. Fidelity notes that the snowball method doesn't save as much on interest but can provide motivational benefits. Use our side-by-side comparison to see exactly how much the avalanche saves you — if the difference is small, choose the method you'll stick with.
How much will extra payments save me? ▼
There is no single amount an extra $50 saves. It depends on the balance, the APR, and the minimum already being paid. One run of this calculator, with the assumptions stated: a single card, a $20,000 balance, an 18% APR, and a fixed $400 minimum that does not shrink. With no extra payment the plan takes 94 months and $17,244.72 of interest. Paying $450 instead ($400 minimum plus $50) takes 74 months and $13,205.50 of interest. That is 20 months sooner and $4,039.22 less interest. The on-screen totals round to the nearest dollar ($17,245 and $13,206). A different minimum changes both numbers. A three-debt table from $50 to $200, with the same kind of assumptions, is in the extra-payment guide.
How do I calculate my debt-free date? ▼
Enter all your debts with their current balances, interest rates, and minimum monthly payments into the calculator above. Add any extra monthly amount you can put toward debt. The calculator instantly shows your exact debt-free date for both the avalanche and snowball methods, so you can plan your finances with confidence.
What types of debt can I include? ▼
You can include any debt that has a balance, an APR, and a minimum payment: credit cards, personal loans, auto loans, student loans, medical bills, and mortgages. A mortgage payment is often large enough to hide what an extra amount does to a card, so many people run consumer debts as their own plan. That is a budgeting choice, not a rule this calculator enforces.
What happens when I pay off a debt early? ▼
When you pay off a debt, the calculator redirects the full amount you were paying on that debt (minimum payment + any extra) to the next debt in your payoff order. This "snowball effect" means your payments to remaining debts increase over time, accelerating your payoff schedule without requiring additional money from your budget.
Can I pay off multiple debts at the same time? ▼
You must make minimum payments on all debts each month. The avalanche and snowball strategies focus your extra payment on one debt at a time for maximum impact. However, you can adjust your strategy anytime — if your financial situation changes, update the calculator to see the new timeline.
How accurate is this debt payoff calculator? ▼
It is an estimate under fixed assumptions: each APR stays the same, each minimum stays the dollar amount you typed, and you pay every month. Interest each month is the starting balance times APR divided by 12, calculated before that month's payment. It does not use a card's average daily balance, a grace period, fees, or a minimum that shrinks as the balance falls. If the real minimum will fall, or a promo rate will end, the issuer's timeline will differ. The schedule stops at 600 months when a payment never covers interest. How this calculator works lists the steps and the omissions.