Debt Payoff Calculator: Avalanche vs. Snowball
The fastest way to pay off debt is not the same as the most motivating way. The avalanche method (highest interest first) saves the most money. The snowball method (smallest balance first) gives you quick wins that keep you going. This calculator shows you both — pick what works for you.
Debt Payoff Calculator
Enter your debt details to see your payoff timeline and total interest.
Avalanche vs. Snowball: Which Is Better?
The avalanche method directs any extra payments toward the highest-interest debt first. Once that is paid off, you roll that payment amount into the next-highest-rate debt. Mathematically this minimizes total interest paid. If you have a mix of a 24% credit card and an 8% car loan, throw every extra dollar at the credit card first.
The snowball method pays the smallest balance first, regardless of interest rate. The psychological win of eliminating a debt entirely can be powerful for people who have struggled to stick to debt payoff plans. Research by Harvard Business Review suggests snowball users pay off debt faster in practice because of this motivation effect.