Iterative Debt Snowball vs Avalanche Payoff Calculator
Enter your total combined debt, average interest rate, number of debts, and the extra amount you can pay each month beyond minimums to compare snowball and avalanche payoff timelines.
About this calculator
Compare how quickly you'll pay off multiple debts and total interest paid using the debt snowball (smallest balance first) versus debt avalanche (highest interest first) strategies.
Frequently Asked Questions
What's the difference between snowball and avalanche?
The snowball method pays off the smallest balance first for psychological wins, while the avalanche method targets the highest interest rate first to minimize total interest paid.
Which method saves more money?
The avalanche method almost always saves more in total interest since it eliminates the most expensive debt first, though the difference can be small if interest rates are similar across debts.
Is this calculator exact for my specific debts?
This tool uses averaged inputs across all your debts for a simplified estimate. For precise payoff order and dates, use a detailed multi-debt tracker with each balance and rate listed separately.