Debt Payoff Calculator (Snowball vs Avalanche)
Compare the Snowball (smallest balance first) and Avalanche (highest APR first) debt strategies. Payoff dates, total interest, and the cost of paying minimums only.
FINANCECompare the Snowball strategy (smallest balance first) and Avalanche strategy (highest APR first) for paying off multiple debts. See payoff dates, total interest, and how much faster an extra monthly payment makes you debt-free.
Add up to eight debts with balance, APR, and minimum payment. The simulator applies each minimum every month, computes monthly interest, then rolls the optional extra payment into the priority debt for each strategy. Outputs debt-free date, months to payoff, total interest paid, payoff order, and the dollar gap between strategies.
Debt Payoff Calculator (Snowball vs Avalanche)
Compare the Snowball (smallest balance first) and Avalanche (highest APR first) strategies. See payoff dates, total interest, and how much faster an extra monthly payment makes you debt-free.
Your Debts
Snowball vs Avalanche
| Months | Interest | Date | |
|---|---|---|---|
| Snowball (smallest balance first) | 90 | $10,508 | Nov 2033 |
| Avalanche (highest APR first) | 90 | $10,508 | Nov 2033 |
Payoff Order
| # | Debt | Month | Date |
|---|---|---|---|
| 1 | Credit Card | 22 | Mar 2028 |
| 2 | Auto Loan | 39 | Aug 2029 |
| 3 | Student Loan | 90 | Nov 2033 |
Snowball vs Avalanche - Which Strategy Wins?
Avalanche (highest APR first) is mathematically optimal - you save the most interest because you starve the most expensive debt first. For pure dollars saved, Avalanche always wins or ties.
Snowball (smallest balance first) wins on psychology. Killing off a debt entirely in months 1-3 delivers a huge dopamine hit, and the freed-up minimum payment "snowballs" into the next debt. Studies (Northwestern/Kellogg, 2016) show people who use Snowball stay consistent longer and pay off more total debt over time.
Pick the strategy you will actually stick with. If your debts have similar APRs (within ~3%), Snowball wins on motivation with minimal extra cost. If one debt has 24% APR and another 5%, Avalanche pulls ahead substantially.
Estimates assume monthly compounding, fixed APRs, and that minimum payments do not decrease as balances fall (most issuers reduce minimums, which extends payoff). For credit cards, also check your card agreement for any introductory APR expiration.