Debt Snowball & Avalanche Calculator
Compare the snowball and avalanche debt payoff strategies for up to 10 debts side-by-side.
Before you calculate
Assumes balances, minimum payments and APRs remain as entered. Missed payments, fees and promotional-rate expirations can change the order and payoff date.
Snowball vs. Avalanche: Which Is Right for You?
Both strategies apply any extra monthly payment to one target debt while paying minimums on the rest. They differ only in which debt gets targeted first.
Interest per debt = Balance × APR / 12; Payment reduces interest first, then principalExample Scenarios
Debt Snowball — motivation through quick wins
Sort debts smallest to largest balance. Knock out the smallest first. Each payoff frees up cash for the next — a psychological 'snowball' that builds momentum and keeps you motivated.
Debt Avalanche — mathematically optimal
Sort debts highest to lowest interest rate. Targeting the costliest debt first minimizes the total interest you pay over time, making it the financially superior strategy if you can stay disciplined.
Methodology & Assumptions
Calculations assume fixed minimum payments and interest rates. Extra payment is applied in full to the target debt each month. Once a debt is paid off, its minimum payment is rolled into the next target.
Sources & calculation notes
Maintained by MoneyCalc. Results are estimates based on the inputs and assumptions shown, not personalized financial advice or a lender quote. Default rates are examples unless a specific tax year or official table is identified.
References explain the underlying concepts or rules. They do not endorse or independently certify this implementation.
Calculations run in your browser. Some tools retain settings on this device. Displayed rounding can produce small differences from a statement or contract.