Debt Payoff Calculator: Snowball vs. Avalanche
Enter up to four debts and see how long each payoff method takes, and how much interest each one costs you.
Your debts
| Debt name | Balance | APR % | Min. payment |
|---|---|---|---|
Snowball method (smallest balance first)
Avalanche method (highest APR first)
Snowball vs. avalanche: what's the difference?
The debt snowball method pays off your smallest balance first, regardless of interest rate, then rolls that payment into the next-smallest balance. It builds momentum through quick wins, which research on behavioral finance suggests helps people stick with the plan. The debt avalanche method targets the highest-interest debt first, which minimizes total interest paid over time - it's mathematically optimal, but the first "win" can take longer to arrive.
FAQ
Which method should I actually use?
Avalanche saves more money in pure interest. Snowball tends to have higher real-world success rates because of the psychological boost from clearing small debts fast. If you're confident you'll stick with a plan either way, avalanche wins on the math. If you need motivation to keep going, snowball often wins in practice.
Does this include mortgage debt?
You can include it, but snowball/avalanche strategies are typically applied to credit cards, personal loans, and other consumer debt - mortgages usually have much lower rates and different payoff considerations.