Debt payoff · Free
Debt Payoff Calculator
Snowball or avalanche? Enter all your debts, set your monthly budget, and see which strategy gets you debt-free fastest.
$
$0$2k/mo
Strategy
Highest APR first — minimises interest
Your debts
Name Balance APR Min/mo
Debt-free in
—
—
Total interest
—
Total paid
—
Payoff order
Avalanche vs Snowball comparison
Avalanche (highest APR first)
Payoff time—
Total interest—
Snowball (lowest balance first)
Payoff time—
Total interest—
Avalanche method
- Pay minimums on everything. Put all extra money toward the debt with the highest APR.
- When it's paid off, roll that full payment into the next highest-rate debt. Repeat.
- Mathematically optimal — minimises total interest paid. Best if you're motivated by numbers.
Snowball method
- Pay minimums on everything. Put all extra money toward the debt with the smallest balance.
- Quick wins keep you motivated. Each paid-off account frees up more cash for the next.
- Usually costs slightly more in interest — but people who use it are more likely to stick with it.