Debt payoff calculator
Add all your debts, set an extra monthly payment, and compare two proven payoff strategies side by side.
Your debts
Total debt
$14,600.00
Snowball
Lowest balance first — faster wins, motivation boostDebt-free in
3y 6m
Total interest
$3,872.24
Avalanche
Highest rate first — mathematically optimalDebt-free in
3y 5m
Total interest
$3,522.00
Avalanche saves $350.25 in interest vs. Snowball.
Snowball vs. avalanche
Snowball: Pay minimums on everything, throw extra money at the smallest balance first. Once it's gone, roll its minimum into the next. Motivating — quick early wins.
Avalanche: Same idea, but target the highest interest rate first. Mathematically optimal — saves more interest over time, though the first payoff may take longer.
The difference in total interest is often small. Pick whichever keeps you motivated to stick with it.