Debt Payoff Calculator
Snowball vs avalanche: see how fast you can be debt-free and how much interest you save.
Your debts
Debt-free in
5y 5m
Total interest
$5,475
Total paid
$30,475
Other strategy (snowball): 5y 5m, $5,475 interest
Payoff order
- 1. Credit CardMonth 8 (0y 8m)
- 2. Personal LoanMonth 24 (2y 0m)
- 3. Auto LoanMonth 65 (5y 5m)
A debt payoff calculator maps out how to clear multiple debts using either the snowball method (smallest balance first) or the avalanche method (highest rate first), and shows how much time and interest each one costs.
Enter each debt's balance, interest rate, and minimum payment, plus any extra you can put toward debt. The tool orders the debts, applies your extra payment, and rolls each freed-up payment onto the next debt.
Both methods work; the difference is math versus motivation. Avalanche saves the most money, while snowball delivers quick wins that help people stick with the plan.
How this calculator works
You pay the minimum on every debt and direct all extra money to one target debt. The avalanche method targets the highest interest rate first, which minimizes total interest because you attack the most expensive balance. The snowball method targets the smallest balance first, which clears whole accounts quickly and builds momentum. When a debt is paid off, its entire payment rolls onto the next debt in the order, so the amount attacking your debt grows over time, the effect that makes both methods accelerate. The calculator simulates this month by month and reports the payoff date and total interest for each approach.
What affects the number
- The size of your extra monthly payment is the biggest driver of how fast every debt clears.
- The spread between your interest rates decides how much avalanche saves over snowball; a wide spread favors avalanche.
- The number and size of small balances affect how motivating snowball feels, since it clears accounts sooner.
- Rolling each freed-up payment onto the next debt is what accelerates payoff; skipping that step slows everything down.
- New charges on the cards you are paying off restart the math and undermine the plan.
- Promotional 0% rates change the ranking temporarily, so factor in when those rates expire.
Frequently asked questions
Which is better, snowball or avalanche?
Avalanche (highest rate first) always saves the most interest and clears debt at least as fast mathematically. Snowball (smallest balance first) costs a little more but produces early wins that keep many people motivated. The best method is the one you will actually follow to the end.
How much does avalanche really save?
It depends on the gap between your rates and the balances involved. When one debt has a much higher rate than the others, avalanche can save a few hundred to a few thousand dollars. When rates are similar, the two methods finish close together, so snowball's motivation may win out.
What is a debt payoff rollover?
When you finish paying off one debt, you take its payment and add it to what you are paying on the next debt, instead of pocketing it. This growing payment, sometimes called a debt snowball, is what makes each successive debt disappear faster.
Should I stop using my credit cards while paying them off?
Ideally yes. New purchases add to the balance and can cancel out your progress, and carrying a balance means you have lost the interest-free grace period. Pausing new charges until the cards are paid off keeps the plan on track.
This calculator provides general estimates for educational purposes only and is not financial, medical, legal, or tax advice. Your actual results depend on your specific situation and current rates.