Debt Payoff Calculator
Compare snowball and avalanche strategies to find the fastest path to debt freedom.
Your Debts
Additional amount applied to your target debt each month
Avalanche
(highest rate first)Snowball
(smallest balance first)Total Balance Over Time
Avalanche — Debt Breakdown
Avalanche Payoff Order
Monthly Payment Schedule
| Month | Credit Card | Student Loan | Total Bal. |
|---|---|---|---|
| 1 | $4,783 | $24,835 | $29,618 |
| 2 | $4,563 | $24,668 | $29,231 |
| 3 | $4,339 | $24,501 | $28,841 |
| 4 | $4,111 | $24,334 | $28,445 |
| 5 | $3,880 | $24,165 | $28,045 |
| 6 | $3,645 | $23,996 | $27,641 |
| 7 | $3,405 | $23,826 | $27,231 |
| 8 | $3,162 | $23,655 | $26,817 |
| 9 | $2,915 | $23,484 | $26,398 |
| 10 | $2,663 | $23,311 | $25,975 |
| 11 | $2,408 | $23,138 | $25,546 |
| 12 | $2,148 | $22,964 | $25,112 |
Snowball vs Avalanche
Avalanche method — pay minimums on all debts, then put every extra dollar toward the debt with the highest interest rate. This is mathematically optimal and minimizes total interest paid over the life of your debts.
Snowball method — pay minimums on all debts, then put every extra dollar toward the debt with the smallest balance. Paying off small debts quickly creates psychological wins and momentum, which research shows helps people stay committed to their payoff plan.
Both methods use the debt rollover technique: when a debt is paid off, its minimum payment rolls into the extra payment pool for the next target debt, accelerating payoff as you go.
The best strategy is the one you'll stick with. If the interest savings from avalanche are small, snowball's motivational benefits may be worth more.
Assumptions & Disclaimers
This calculator assumes fixed interest rates, fixed minimum payments, and no new charges. Actual results may vary based on variable rates, promotional periods, late fees, and changes to minimum payment calculations. This is not financial advice.