Use this free debt payoff calculator to compare two of the most effective strategies for getting out of debt: the snowball method and the avalanche method. Enter your balances, interest rates, and minimum payments to see a side-by-side breakdown of total interest paid, months to payoff, and your projected debt-free date. No signup required.
How the Snowball Method Works
The snowball method targets your smallest balance first while paying minimums on everything else. As each debt disappears, you roll that freed-up payment into the next one. It builds momentum quickly, which helps if motivation is what keeps you on track.
How the Avalanche Method Works
The avalanche method targets your highest interest rate first. It typically saves more money in total interest and pays off debt faster on paper. It is the mathematically optimal approach for most debt profiles.
Your debts
Which Method Is Right for You?
The calculator above runs both simulations using your actual numbers, so you can see the real dollar difference for your specific situation.