When you have more than one debt, the order you pay them off changes how long it takes and how much interest you pay. The snowball method puts extra money toward the smallest balance first, which can create earlier payoffs. The avalanche method puts extra money toward the highest interest rate first, which often reduces total interest.
This calculator uses the same monthly budget for both methods: the minimums you enter, plus any extra amount. After a debt is paid off, that minimum rolls into the next target.
How to use this calculator
- Enter each debt’s balance, APR, and current minimum payment. You can add or remove rows.
- Add any extra amount you can pay each month on top of those minimums.
- Compare time to debt-free, total interest, and the payoff order for each method.
Results
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