DebtPayoffTools

Debt Payoff Calculator

Compare the snowball and avalanche methods across your actual debts and see the payoff order, timeline and interest cost.

Last reviewed

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Free · No sign-up · Runs in your browser

Two methods dominate debt payoff advice. Avalanche targets the highest interest rate first and always costs the least in total. Snowball targets the smallest balance first and clears individual debts sooner, which some people find easier to sustain.

This calculator runs both against your actual debts and reports the difference in months and in interest, so the choice is made with the cost of it visible rather than argued about in the abstract.

Your numbers

Results update as you type. Nothing is sent anywhere.

One per line: name, balance, annual rate, minimum payment.

Result

Debt free in

29 months

Total interest

$3,457

Method used
Avalanche
Total balance
$23,700
Monthly commitment
$985
Years to clear
2.4 years
Avalanche months
29 months
Snowball months
29 months
Avalanche saves
$268
Saved versus minimums only
$6,758

Avalanche targets the highest rate first and always costs the least interest. Snowball clears the smallest balance first and pays off individual debts sooner.

When a debt is cleared its minimum payment is added to the next target, which is what makes both methods accelerate over time.

Payoff order - Avalanche method

#DebtCleared afterInterest paid
1Store card6 months$133
2Credit card20 months$1,591
3Personal loan23 months$612
4Car loan29 months$1,120

How to use the debt payoff calculator

  1. List each debt on its own line: name, balance, annual rate, minimum payment.
  2. Enter the extra amount you can put toward debt each month beyond the minimums.
  3. Choose a method to see its payoff order.
  4. Compare the avalanche and snowball totals before committing.

What people use this for

  • Choosing between the snowball and avalanche methods with real numbers.
  • Seeing how much faster an extra monthly amount clears everything.
  • Working out which debt to attack first.
  • Setting a realistic debt-free date.

Worked examples

Every figure below is produced by running this calculator against the example inputs, so the numbers always match the tool.

Four debts with $300 extra

Two cards, a car loan and a personal loan, with $300 a month beyond the minimums, using avalanche.

Debt free in
29 months
Total interest
$3,457
Avalanche saves
$268

The same debts with no extra payment

Minimum payments only, which shows what the extra amount is buying.

Debt free in
46 months
Total interest
$7,474
Saved versus minimums only
$2,741

What the two methods actually differ on

Both roll the freed-up minimum payment onto the next target when a debt clears, which is what makes either method accelerate. The only difference is the order.

Avalanche is mathematically optimal and always costs less interest. Snowball clears the first debt sooner, which produces visible progress early. The gap between them is usually smaller than either camp claims, and this calculator reports it exactly.

The extra payment matters more than the method

Comparing the two examples above is instructive: the difference between avalanche and snowball is typically a few hundred dollars, while the difference between paying an extra $300 and paying nothing extra is measured in years and thousands.

Choose whichever method you will actually sustain, then concentrate on the extra amount. That is the variable with real leverage.

Methodology and assumptions

What this calculator does, and what it deliberately does not do.

  • Interest accrues monthly on each balance. Minimums are paid first, then the extra amount plus any freed-up minimums go to the focus debt.
  • Avalanche orders by rate, snowball by balance. The minimums-only comparison uses no extra payment and no rollover.
  • The simulation is capped at 720 months and reports when the minimums entered can never clear the balances.
  • Results are estimates. Real quotes depend on credit, income, property, loan programme and lender pricing at the time of application.
  • Nothing you type is transmitted or stored - the calculation runs entirely inside your browser.

This calculator is provided for informational and educational purposes only. Results are estimates and may not reflect actual rates, fees, taxes, or market conditions.

This website is not a lender, a mortgage broker or a financial adviser. It does not originate loans, does not accept applications and does not forward your details to anyone.

Actual loan terms depend on credit history, income, the property, the loan programme and lender pricing at the time of application. Only a lender can tell you what you qualify for.

Frequently asked questions

Which method should I use?

Avalanche costs less. Snowball is easier to stick with for some people. Since abandoning a plan costs more than either method saves, the one you will actually follow is the right one.

What if I add new debt?

The projection assumes no new borrowing. Adding to a balance while paying it down is the most common reason plans stall.

Should I include the mortgage?

Usually not in this exercise. Mortgage rates are typically far below consumer debt rates, and including it distorts the ordering.

Where do I find the minimum payment?

On the statement. For revolving balances the minimum falls as the balance does; this calculator holds it constant, which is slightly conservative.

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