Debt Payoff Calculator (Snowball vs Avalanche)
Enter a debt's balance, rate and your monthly payment to see the payoff time and total interest — and what an extra payment saves.
Snowball vs avalanche
When you have several debts, two strategies work. The avalanche method pays the highest-interest debt first — mathematically optimal, it minimises total interest. The snowball method pays the smallest balance first — less optimal on paper, but the quick wins build momentum and it is the one most people actually stick to. Either beats paying only the minimum.
High-interest debt is a guaranteed negative return. Clearing a 19% credit card is like earning a risk-free 19% — far better than most investments. For most people, paying off high-interest debt comes before investing. Once it is gone, redirect those payments into your savings and investing budget.