Debt Payoff Calculator
Enter each of your debts and how much extra you can pay per month to compare how fast the avalanche and snowball strategies get you debt-free — and what each costs in interest.
Your debts
On top of all minimums. Used by avalanche and snowball.
Avalanche puts every spare amount toward the debt with the highest APR first, which minimizes total interest. Snowball targets the smallest balance first, giving quicker early wins. In both, a paid-off debt's minimum rolls into the next target. Assumes fixed APRs and minimum payments, no new borrowing and no fees; interest is estimated monthly. These are estimates for comparison, not financial advice.
| Strategy | Debt-free in | Total interest | Total paid |
|---|---|---|---|
| Minimum payments only | 4 yr 10 mo | $4,969.78 | $18,669.78 |
| Avalanche (highest APR first) | 2 yr 2 mo | $2,181.51 | $15,881.51 |
| Snowball (smallest balance first) | 2 yr 2 mo | $2,255.77 | $15,955.77 |
Avalanche (highest APR first)
- Credit card — paid off after 1 yr 4 mo
- Store card — paid off after 1 yr 7 mo
- Personal loan — paid off after 2 yr 2 mo
Snowball (smallest balance first)
- Store card — paid off after 6 mo
- Credit card — paid off after 1 yr 7 mo
- Personal loan — paid off after 2 yr 2 mo
Avalanche saves about $74.26 in interest compared with snowball. Compared with paying only the minimums, avalanche saves about $2,788.26 in interest.
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How to use debt payoff calculator
- 1Add each debt with its balance, APR and minimum monthly payment.
- 2Enter any extra amount you can pay each month on top of the minimums.
- 3Compare the minimum-payments-only baseline with the avalanche and snowball strategies.
- 4Check the order each strategy pays your debts off in.
About this tool
Both strategies start the same way: pay the minimum on every debt. The difference is where the extra money goes. The avalanche method sends it to the debt with the highest interest rate first, which always costs the least interest overall. The snowball method sends it to the smallest balance first, so you clear individual debts sooner — a motivational boost many people find helps them stick with the plan.
When a debt is paid off, its minimum payment isn't spent elsewhere — it rolls into the next target debt, so the amount you throw at your debts stays the same each month and accelerates over time. The minimum-only baseline shows what happens with no extra payment and no rollover.
The simulation assumes fixed interest rates and minimum payments, no new borrowing and no fees, with interest estimated monthly at APR ÷ 12. Real minimums often fall as balances shrink, which would make the baseline even slower. Results are estimates to help you compare approaches, not financial advice.
Frequently asked questions
Avalanche always saves the most interest, because the costliest debt shrinks first. Snowball can cost a little more but pays off individual debts sooner, which some people find easier to stay motivated with. If the difference shown is small for your debts, pick the one you'll stick with.
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