🏔️ Debt Payoff Calculator (Snowball vs Avalanche)
List your debts and an extra monthly amount, and compare the snowball (smallest balance first) and avalanche (highest APR first) methods — payoff date, total interest and which wins.
| Debt | Balance ($) | APR (%) | Min/mo ($) | |
|---|---|---|---|---|
Avalanche
highest APR first — least interest
Snowball
smallest balance first — quick wins
Avalanche saves $210 in interest versus snowball. Snowball can be easier to stick with — the best plan is the one you’ll follow.
| Payoff order (avalanche) | Cleared by | Interest paid |
|---|---|---|
| Store card | month 8 | $172 |
| Credit card | month 21 | $1,104 |
| Medical bill | month 27 | $0 |
| Car loan | month 31 | $929 |
Month-by-month simulation of both strategies. Educational — not financial advice. 🔒 Your debt figures never leave your browser.
How the debt payoff calculator (snowball vs avalanche) works
The tool simulates every month: it charges interest on each balance, pays the minimums, then throws the extra payment — plus the freed-up minimums from any cleared debts — at one focus debt. The snowball targets the smallest balance first (for motivating quick wins); the avalanche targets the highest APR first (to minimise interest). It reports the debt-free date and total interest for each.
The avalanche always costs the least interest mathematically; the snowball can be easier to stick with because you clear whole debts sooner. Your debt figures never leave your browser. Educational — not financial advice.
Frequently asked questions
What is the difference between the debt snowball and avalanche?
The snowball pays off the smallest balance first for quick, motivating wins; the avalanche pays off the highest-interest debt first to minimise total interest. Both put every spare dollar toward one debt at a time.
Which method saves the most money?
The avalanche — paying the highest APR first always minimises interest. The snowball usually costs a little more but can be easier to maintain, and the best plan is the one you actually follow.
How does the extra payment help?
Above the minimums, every extra dollar goes to one focus debt, clearing it faster; its freed-up minimum then rolls onto the next debt (the “snowball” effect), accelerating each payoff.
What if my minimum payments don’t cover the interest?
Then the balance grows and never clears — the tool flags this. You need to pay more than the monthly interest for the debt to shrink.
Is my financial data safe?
Yes — the whole simulation runs in your browser. Your balances, rates and payments are never sent anywhere.
Educational information, not financial advice. These calculators use standard formulas with the figures you enter; results are illustrations, not guarantees. For decisions about your money, consult a qualified, regulated financial professional.