Free · Snowball · Avalanche
Debt Payoff
Calculator
Compare snowball vs avalanche and see exactly how fast extra payments make you debt-free.
Months to debt-free
Interest saved
Strategy comparison
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Your debts
Debt 1
Name
Debt 2
Name
Debt 3
Name
Debt 4
Name
Your plan
Debt-free in
3 yrs 4 mo
vs 7 yrs 6 mo with minimums only
Total interest
$8,900
Interest saved
$12,400
Total paid
$49,400
Avalanche saves the most money; snowball builds momentum. Either beats minimum payments by years and thousands of dollars.
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Minimums are a trap
Paying only minimums on high-interest cards can stretch a $5,000 balance into 20+ years and double the cost.
Pay high APR first
The avalanche method targets the highest interest rate, minimizing total cost. It is mathematically optimal.
Roll payments forward
Each paid-off debt frees its minimum payment, which you roll into the next debt — that snowball effect accelerates everything.
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FAQ
Debt calculator FAQ
What is the debt snowball method?
Pay minimums on everything, then put extra money toward the smallest balance first. When it is paid off, roll that payment to the next smallest. It builds momentum and motivation.
What is the debt avalanche method?
Pay minimums on everything, then put extra money toward the highest interest rate first. It saves the most interest and pays off fastest, mathematically.
Which is better: snowball or avalanche?
Avalanche saves the most money; snowball keeps you motivated with quick wins. If you are disciplined, avalanche wins; if you need momentum, snowball may keep you on track.
How much interest can I save with extra payments?
It depends on your rates and balance. Even $100/month extra on a typical card can save thousands and cut years off the payoff. This calculator shows the exact amount.
How long will it take to pay off my debt?
With minimum payments only, high-interest cards can take 10–30 years. With a focused strategy and extra payments, most people get debt-free in 2–5 years.
Should I pay off debt or invest?
Generally pay off high-interest debt (APR above ~7–8%) before investing beyond any employer match. The guaranteed return beats most investments.
What is a balance transfer?
Moving a balance to a card with a 0% introductory APR. It can cut interest drastically, but watch transfer fees and the end of the promo period.
How accurate is this calculator?
It simulates monthly payments exactly. Rates are annual APRs converted monthly; results are reliable estimates for planning.