Debt Payoff Calculator
Add your debts and compare the snowball and avalanche methods side by side — see your debt-free date and exactly what each approach costs.
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Result
Two proven methods clear debt faster than paying a little on everything. The snowball targets your smallest balance first for quick, motivating wins. The avalanche targets your highest interest rate first to minimise the total interest you pay. This tool runs your actual debts through both and shows the difference in time and money.
Snowball versus avalanche
Mathematically, the avalanche always costs the least interest, because it kills your most expensive debt soonest. Psychologically, the snowball often wins, because clearing a whole balance early builds momentum that keeps people going. The right choice is the one you will actually stick to — and the comparison here shows exactly what the motivation is costing you, if anything.
The power of the extra payment
The single biggest lever is the extra amount you add on top of your minimums. Because it attacks principal directly and then rolls forward as each debt clears, even a modest extra payment can cut months or years off your payoff date. Raise it in the input and watch the debt-free date move.
Questions, answered
Which is better, snowball or avalanche?
Avalanche pays the least total interest by tackling the highest rate first. Snowball clears whole balances soonest, which many people find more motivating. If the interest difference is small, the snowball's momentum can be worth it; if it is large, avalanche saves real money.
What is the extra monthly payment?
It is the amount you can pay above the combined minimums each month. It is applied to your focus debt — smallest balance for snowball, highest rate for avalanche — and accelerates everything. As debts clear, their minimums roll into the pool too.
What if a debt never pays off?
If a debt's minimum payment is smaller than its monthly interest and there is no extra payment reaching it, the balance grows instead of shrinks. The tool flags this so you know to increase payments or the rate is unsustainable.
Does this account for new spending?
No. It assumes you stop adding to these balances. New charges on a card you are paying off will extend the timeline, so pairing a payoff plan with a budget works best.