Debt Payoff Calculator
Compare the snowball and avalanche methods side-by-side. See your exact payoff date and how much interest you'll save.
Quick Answer
Your Debts
Extra monthly payment
Amount above minimums applied to priority debt
Snowball Method
Pay smallest balance first
Debt-free date
April 2030
Months to payoff
46 mo
Total interest
$5,138
Payoff order
Avalanche Method
Saves mostPay highest APR first
Debt-free date
April 2030
Months to payoff
46 mo
Total interest
$5,138
Payoff order
Which strategy is right for you?
Could debt consolidation lower your rate?
If your credit score has improved, consolidating multiple debts into one lower-rate loan could save you money — and simplify the math above into a single payment.
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Frequently asked questions
What is the debt snowball method?
The debt snowball method has you pay off your smallest debt balance first while making minimum payments on others. Once the smallest is paid, you roll that payment to the next smallest. It builds momentum and motivation through quick wins.
What is the debt avalanche method?
The debt avalanche method targets your highest-interest debt first while making minimums elsewhere. It saves the most money in interest charges over time, though the first payoff may take longer than with snowball.
Which method pays off debt faster?
The avalanche method pays off debt faster in terms of total time and interest paid. However, the snowball method can feel faster because you eliminate individual debts sooner, which helps many people stay motivated.
How much extra should I put toward debt each month?
Even $50–$100 extra per month can dramatically reduce your payoff timeline. Put your full monthly surplus into debt payoff rather than splitting it — focused extra payments reduce the principal faster and compound the interest savings.
Should I pay off debt or invest?
If your debt interest rate exceeds what you can earn investing (typically 6–7%), pay the debt first. Keep an emergency fund regardless. Contribute enough to get any 401k employer match before extra debt payments — that's a guaranteed 50–100% return.