Have several debts and not sure which to pay first? This free debt payoff calculator compares the debt snowball (smallest balance first) and the debt avalanche (highest interest rate first). Enter up to five debts and any extra amount you can pay each month to see how long each method takes and how much interest you would pay.
Debt Payoff Calculator: Snowball vs. Avalanche
| Method | Months to debt-free | Total interest | Payoff order |
|---|
Interest is calculated monthly (APR / 12). Minimum payments are assumed fixed; when a debt is paid off, its minimum rolls into the next target. New charges, fees, and promotional rates are not included.
How the Calculator Works
- Each month, interest is added to every debt based on its APR.
- All minimum payments are made first.
- Your extra payment – plus the minimums of any debts already paid off – goes to the target debt: the smallest balance (snowball) or the highest rate (avalanche).
- The process repeats until every balance reaches zero.
Which Method Should You Choose?
The avalanche method usually costs less in total interest. The snowball method gives quicker early wins, which helps many people stay motivated. If the difference in interest is small, the method you will stick with is often the better choice. Read the full guide: Debt Snowball vs. Debt Avalanche.
Tips to Get Out of Debt Faster
- Stop adding new debt while you pay down existing balances.
- Use a budget to find extra money each month – try our 50/30/20 budget calculator.
- Keep a small emergency fund so surprises don’t go on a credit card.
Learn More
This calculator is for general educational purposes only. Results are estimates based on the numbers you enter and simplified assumptions; they are not financial, investment, or tax advice. See our Disclaimer.