Debt Payoff Calculator
Snowball vs. avalanche, in plain terms
Both methods have you pay the minimum on every debt, then throw all your extra money at one target debt until it's gone — then roll that payment into the next one. The only difference is which debt you target first.
Snowball targets your smallest balance first. You clear full debts faster, which builds momentum and motivation — often the deciding factor in actually sticking with a payoff plan.
Avalanche targets your highest interest rate first. It's mathematically optimal — you'll generally pay less total interest and finish slightly sooner — but the first "win" can take longer to arrive if your highest-rate debt also has a large balance.
What actually speeds up payoff
The size of your extra monthly payment matters far more than which method you pick. An extra $100–200/month toward debt typically shaves years off a payoff timeline that minimum payments alone would stretch out for a decade or more.
Common questions
The snowball method pays off your smallest balance first regardless of interest rate, building momentum through quick wins. The avalanche method pays off your highest interest rate first, which minimizes the total interest you pay over time.
Avalanche saves more money mathematically since it targets the most expensive debt first. Snowball often works better behaviorally because clearing a full balance quickly builds motivation to keep going. Neither is wrong — pick the one you're more likely to stick with.
Yes. Any extra amount you put toward debt each month shortens your payoff timeline more than the choice between snowball and avalanche does. The method affects which debt gets the extra money first, not how much extra you're paying overall.