How to use this debt payoff calculator
List each debt's name, balance, APR, and minimum payment — up to five. Set the extra monthly payment you can put toward debt, then watch the avalanche and snowball results update side by side.
Avalanche vs snowball
- Avalanche — extra dollars hit the highest-interest debt first. Saves the most money overall.
- Snowball — extra dollars hit the smallest balance first. Quick wins build momentum.
The best method is the one you finish. Avalanche is mathematically optimal, but if early wins keep you going, snowball's small extra cost can be worth it. Seeing both numbers helps you choose with eyes open.
Frequently asked questions
What is the avalanche method?
Extra payments target your highest-interest debt first — the fastest, cheapest payoff mathematically.
What is the snowball method?
Extra payments target your smallest balance first for quick, motivating wins.
Which is better?
Avalanche saves the most; snowball keeps you motivated. The calculator shows the dollar difference so you can decide.
How much does an extra payment help?
Any amount above the minimums accelerates payoff and cuts interest under both methods.
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This calculator is for educational and planning purposes only and provides estimates, not financial advice. See how we calculate.