Compare the Avalanche and Snowball methods to find the best strategy for paying off your debts faster and saving money.
Try Calculator NowDebt can feel overwhelming, but with the right strategy, you can take control of your finances and work toward becoming debt-free. Our Debt Payoff Calculator helps you compare two popular methods for paying off multiple debts: the Avalanche method and the Snowball method.
The Avalanche method focuses on paying off debts with the highest interest rates first, which can save you the most money in interest payments over time. This mathematically optimal approach minimizes the total interest you'll pay, helping you become debt-free at the lowest possible cost.
The Snowball method, popularized by financial expert Dave Ramsey, suggests paying off your smallest debts first regardless of interest rate. This approach provides psychological wins that can motivate you to continue your debt payoff journey. While it may cost slightly more in interest, many people find the quick wins help them stay committed.
Our calculator lets you input all your debts, then shows you detailed comparisons between these two approaches. You'll see exactly how much you can save, how long each method will take, and which debts to prioritize. Whether you're dealing with credit cards, student loans, personal loans, or other types of debt, our tool provides the clarity you need to make an informed decision about your payoff strategy.
Beyond just the numbers, we provide educational resources to help you understand debt management, budgeting techniques to free up more money for debt repayment, and success stories from people who've used these methods to become debt-free. Financial freedom is within your reach - let us help you create a personalized plan to get there.
Our calculator performs detailed amortization calculations for each debt, showing exactly how much of each payment goes toward principal vs. interest, and how your balances decrease over time.
Interactive charts and graphs help you visualize the differences between payoff methods, making complex financial data easy to understand at a glance.
Save or print your results to create a personalized debt payoff plan you can reference throughout your journey to becoming debt-free.
Based on your specific debt situation, we'll recommend which method might work best for you, considering both mathematical efficiency and psychological factors.
See a month-by-month timeline of your debt payoff journey, showing exactly when each debt will be paid off and how your available payment amount will shift as debts are eliminated.
Access our library of articles, videos, and tools to learn more about debt management, budgeting, and financial planning to support your overall financial health.
Start by entering how much you can realistically pay toward your debts each month. This should be an amount you can consistently maintain. Be honest with yourself - it's better to start with a slightly lower amount you can stick with than an ambitious number you might not sustain.
If you're not sure how much you can allocate, consider tracking your expenses for a month to identify areas where you can cut back. Even small amounts add up over time!
For each debt you owe, enter:
Don't forget to include all types of debt: credit cards, personal loans, student loans, medical bills, etc. The more accurate your information, the more precise your results will be.
Select which payoff strategy you want to calculate:
Prioritizes debts with the highest interest rates first, saving you the most money on interest payments over time.
Focuses on paying off smallest balances first for quick wins and psychological motivation.
For the most comprehensive comparison, click "Compare Both Methods" to see side-by-side results.
Our calculator will show you:
Pay special attention to the interest savings difference between methods. For some people, this can amount to thousands of dollars!
Based on your results, decide which method aligns best with your financial situation and personality. Some people prefer the mathematically optimal approach (Avalanche), while others benefit more from the psychological wins of the Snowball method.
Remember, the best method is the one you'll stick with consistently. You can always adjust your strategy later as your financial situation changes.
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Paid off $28,000 in 22 months
"I was drowning in credit card debt and student loans. The Avalanche method showed me how to save over $4,200 in interest. Seeing the numbers motivated me to stick with the plan, even when it got tough."
Paid off $42,500 in 3 years
"The Snowball method was perfect for me. Paying off those small debts first gave me the confidence to tackle the bigger ones. This calculator helped me see the light at the end of the tunnel."
Paid off $15,000 in 14 months
"I started with just $200 extra per month toward debt. The calculator showed me how increasing that by just $50 could cut months off my payoff timeline. That small adjustment made all the difference!"
Paid off $62,000 in 4 years
"Combining both methods worked best for me. I used Snowball for the first year to build momentum, then switched to Avalanche. The calculator helped me plan this hybrid approach strategically."
The Avalanche method prioritizes paying off debts with the highest interest rates first, regardless of balance. This approach saves you the most money in interest payments over time.
The Snowball method focuses on paying off your smallest debts first (regardless of interest rate), giving you quick wins that can provide psychological motivation to continue your debt payoff journey.
Mathematically, the Avalanche method is superior because it minimizes the total interest you'll pay. However, the Snowball method can be more effective for people who need psychological wins to stay motivated.
The "better" method depends on your personality and financial situation. Our calculator helps you compare both approaches so you can make an informed decision.
It's generally recommended to maintain at least a small emergency fund (e.g., $1,000) while paying off debt to avoid going deeper into debt when unexpected expenses arise.
Once you have this basic safety net, you can focus most of your available funds on debt repayment. After becoming debt-free, you can then build a more substantial emergency fund (3-6 months of expenses).
If you're struggling to make minimum payments, consider these options:
Our calculator can help you see how even small increases in your monthly payment can make a significant difference over time.
Our calculator uses standard amortization formulas to provide accurate estimates of your debt payoff timeline and total interest paid.
However, results are estimates based on the information you provide and assume:
Yes! Some people find success with a hybrid approach:
Our calculator lets you compare both methods so you can design a personalized strategy that works for you.
Congratulations on becoming debt-free! Here's what to do next:
The money you were using for debt payments can now work toward building your wealth!
It's good practice to revisit your plan:
Regular check-ins help you stay on track and make adjustments as needed.
Yes, you can include your mortgage in the calculator. However, mortgages typically have much lower interest rates than credit cards or personal loans.
For most people, it makes sense to prioritize higher-interest debt before making extra mortgage payments. Our calculator can help you see the impact of different approaches.
Currently, our calculator doesn't save your data automatically between sessions. However, you can:
We're working on adding account features that will allow you to save multiple scenarios.
Our calculator doesn't just show simple estimates - it performs detailed amortization calculations for each debt, showing exactly how your payments are applied and how your balances decrease over time. You get a complete, accurate picture of your debt payoff journey.
We present your results with clear, interactive charts and graphs that make complex financial data easy to understand at a glance. Visual learners especially appreciate being able to see their progress rather than just reading numbers.
Beyond just calculations, we provide extensive educational content to help you understand debt management strategies, budgeting techniques, and financial planning concepts. Our goal is to empower you with knowledge, not just numbers.
We don't require you to create an account or provide personal information to use our calculator. Your financial data stays private on your device - we don't store or sell your information. Financial privacy is a right, not a privilege.
Start your journey to financial freedom today with our powerful debt payoff calculator.