Which method saves more money?

Avalanche — by targeting the highest interest rate first, you minimize total interest. Mathematically optimal.

Why use snowball then?

Psychology. Snowball gives quick wins (eliminating small balances fast) which boosts motivation and adherence. People who'd give up on avalanche often succeed with snowball.

How does the extra payment work?

After paying minimums on all debts, the extra is applied to the target debt (first in sort order). Once that debt is paid off, its minimum plus the extra roll to the next debt — creating a snowball effect.

Does this handle new debt?

No — it projects payoff assuming you don't add new debt. For accurate results, freeze your credit cards and stop borrowing while paying down.

No — all math runs locally in your browser.

Debt Payoff Calculator

Compare avalanche vs snowball methods and project debt-free date.

100% private — no uploads Finance ToolsFree & unlimited Read tutorial

See how it works

Watch a quick simulation of this tool in action — no file needed.

How to use Debt Payoff Calculator

Follow these steps — everything happens instantly in your browser.

1
Step 1. List debts one per line: name, balance, rate %, minimum payment.
2
Step 2. Choose avalanche (highest rate first) or snowball (smallest balance first).
3
Step 3. Enter an extra monthly payment to accelerate payoff.
4
Step 4. See total interest paid and months to debt-free.