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Debt Payoff Calculator

List your debts, add any extra amount you can pay each month, and compare the avalanche and snowball strategies side by side.

Debt-free in

3 yr 2 mo

Total interest paid

$2,216.50

Total paid

$18,216.50

Avalanche vs. snowball

Avalanche (this)

3 yr 2 mo

$2,216.50 interest

Snowball

3 yr 2 mo

$2,216.50 interest

Avalanche minimizes total interest paid; snowball pays off individual debts faster, which some people find more motivating to stick with.

Show payoff order
DebtPaid off inInterest paid
Credit card1 yr 4 mo$629.35
Car loan3 yr 2 mo$1,587.16

How the simulation works

Each month, every debt accrues interest on its remaining balance and receives at least its minimum payment. Any extra budget — your entered extra amount, plus the minimum payments freed up from debts already paid off — goes entirely to whichever debt is highest priority under the chosen strategy, until every debt reaches zero.

Worked example

Suppose you have three debts: Debt A ($1,000 at 6%), Debt B ($8,000 at 24%), and Debt C ($3,000 at 12%), with minimum payments of $50, $150, and $70, plus $200 extra a month:

  • Avalanche (pays off B first, the 24% debt): debt-free in about 37 months, ~$3,624 total interest
  • Snowball (pays off A first, the smallest balance): debt-free in about 47 months, ~$5,673 total interest

Here avalanche wins on both time and cost because it stops the large, high-rate debt from accruing interest for as long — try adding these three debts above to see the comparison yourself. The gap won't always be this large; it depends on your own numbers.

Frequently asked questions

What's the difference between avalanche and snowball?+

Avalanche puts every extra dollar toward the debt with the highest interest rate first, regardless of its balance — mathematically, this minimizes total interest paid. Snowball puts extra money toward the smallest balance first, regardless of rate — it clears individual debts faster, which many people find more motivating even though it can cost somewhat more in total interest.

Why do both strategies use the same 'extra payment' amount?+

The comparison holds your total monthly budget (all minimum payments plus your extra amount) constant between the two strategies, so the difference you see is purely about payoff order, not about paying more or less overall each month.

What happens to a paid-off debt's minimum payment?+

Once a debt is fully paid off, its minimum payment is freed up and rolled into the extra amount going toward your next priority debt — this is why payoff often accelerates noticeably after the first debt or two are cleared.

Why might the two strategies show a big time difference?+

If a large, high-interest debt gets pushed to the back of the line (as can happen under snowball), it keeps accruing significant interest the whole time it's only receiving minimum payments — which can meaningfully extend the total time and interest needed to become debt-free. The size of this gap depends entirely on your specific debts.

Not financial advice. This calculator is provided for general educational and informational purposes only and does not constitute financial, investment, tax, or legal advice. Results are estimates based on the assumptions you enter and may not reflect actual returns, fees, or taxes. Consult a qualified financial professional before making decisions based on this information.