Compare debt snowball vs avalanche methods. See how much interest you'll save. 100% free, no email required.
Calculate Your Debt-Free Date NowAmount beyond minimum payments to pay toward debt
Enter each debt's current balance, minimum monthly payment, and annual interest rate (APR).
Input any additional money you can dedicate to debt payoff beyond your minimum payments.
Select debt snowball (pay smallest debts first) or debt avalanche (pay highest interest first).
Instantly see your debt-free date, total interest savings, and detailed monthly payment schedule.
How the snowball method works: Pay minimums on all debts, then attack the smallest balance first with any extra money.
Best for: People who need quick wins and motivation to stay on track.
Average completion rate: 89%
How the avalanche method works: Pay minimums on all debts, then target the highest interest rate first with extra payments.
Best for: People who want to minimize interest payments and save the most money.
Average interest savings: $2,847
The debt snowball calculator shows you how to pay off debts from smallest to largest balance, providing quick psychological wins. The debt avalanche calculator targets high-interest debts first, saving you more money overall. Our free tool calculates both methods instantly so you can compare and choose the best strategy for your situation.
Our calculator uses precise monthly compounding formulas that match how lenders calculate interest. It accounts for exact payment timing and provides accuracy within pennies of your actual payoff. Results assume consistent payments and no additional debt.
Absolutely! This calculator works perfectly for credit card debt, student loans, auto loans, personal loans, and any other debts with fixed minimum payments. Just enter your current balance, minimum payment, and APR for each debt.
Extra payments can dramatically accelerate your debt payoff. For example, adding just $100/month extra typically cuts years off your payoff time and saves thousands in interest. Our calculator shows exactly how much time and money you'll save with any extra payment amount.
Yes, 100% free forever. No signup, no email required, no hidden fees. We believe everyone deserves access to financial planning tools. All calculations happen privately in your browser - we never see or store your financial information.
For variable rate debts, enter your current interest rate. While rates may change, our calculator gives you a baseline plan. We recommend recalculating quarterly if you have variable rates to adjust your strategy as needed.