Debt Avalanche vs Snowball Payoff Calculator
Paying off multiple debts faster depends on which order you attack them. This calculator simulates both the avalanche and snowball methods month-by-month using your total extra payment budget, showing which strategy gets you debt-free sooner and saves the most interest.
About this calculator
Compare the avalanche (highest interest first) and snowball (smallest balance first) debt payoff strategies to see which saves more interest and time for your specific debts.
Frequently Asked Questions
What's the difference between avalanche and snowball methods?
Avalanche pays off the highest-interest debt first, minimizing total interest paid. Snowball pays off the smallest balance first, which can build motivation through quick wins.
Which method saves more money?
Mathematically, avalanche almost always saves more in total interest since it targets the most expensive debt first. Snowball may only be better psychologically.
Does this include minimum payments?
Yes, the simulation applies minimum payments to all debts each month, then directs your extra payment budget toward the target debt based on each strategy's order.