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Debt Payoff Calculator: Avalanche vs Snowball

List your debts and what you can pay each month. See how long each strategy takes, what it costs, and the order debts get paid off.

Debt 1
$
%
$
Debt 2
$
%
$
Debt 3
$
%
$
$

On top of all minimum payments.

Debt-free with $665.00 a month

2 yr 6 mo

$2,298.11 interest with the avalanche method

Interest saved vs minimums

$2,521.03

Minimums take 4 yr 6 mo

Time saved vs minimums

2 yr 0 mo

Avalanche (highest rate first)

Least interest

2 yr 6 mo

$2,298.11 interest

  1. 1. Credit card Amonth 15
  2. 2. Credit card Bmonth 18
  3. 3. Car loanmonth 30

Snowball (smallest balance first)

2 yr 6 mo

$2,348.94 interest

  1. 1. Credit card Bmonth 7
  2. 2. Credit card Amonth 18
  3. 3. Car loanmonth 30

Paying only the minimums: 54 months and $4,819.14 interest.

How this is calculated

  1. Monthly budget

    All minimum payments plus your extra amount, kept the same every month.

    $665.00

  2. Avalanche

    Extra money goes to the highest interest rate first. Debt-free in 30 months.

    $2,298.11

  3. Snowball

    Extra money goes to the smallest balance first. Debt-free in 30 months.

    $2,348.94

  4. Minimum payments only

    Paying only minimums takes 54 months; the avalanche saves $2,521.03 in interest.

    $4,819.14

  5. Highest rate

    Credit card A at 22.99% is the avalanche's first target.

Assumptions
  • Rates and minimum payments stay the same, and no new charges are added.
  • Interest is charged monthly at the APR รท 12.
  • When a debt is paid off, its minimum payment rolls into the next target.

Worked examples

Credit card A $4,000 at 22.99%, card B $1,500 at 19.99%, car loan $12,000 at 6.9%, minimums $465 plus $200 extra.

StrategyMonths to debt-freeTotal interest
Avalanche30$2,298.11
Snowball30$2,348.94
Minimums only54$4,819.14

Frequently asked questions

Which is better, avalanche or snowball?

Avalanche always costs the same or less interest because it pays the highest rate first. In the example above it saves $50.83 versus snowball. Snowball clears small balances sooner, which some people find easier to stick with.

What happens when a debt is paid off?

Its minimum payment rolls into the next debt in your order, so your total monthly payment stays the same and the payoff speeds up.

How much does paying only the minimum cost?

In the example, $4,819.14 of interest over 54 months, versus $2,298.11 with $200 extra on the avalanche.

Estimates for information only; not tax, legal or financial advice. See our methodology.

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