Debt Payoff Calculator
Compare the Snowball and Avalanche strategies for paying off debt.
About this tool
Simulates paying off multiple debts month by month and tells you exactly how long it'll take and how much interest you'll pay — using either the "snowball" method (pay off the smallest balance first, for quick psychological wins) or the "avalanche" method (pay off the highest interest rate first, which mathematically saves the most money). Every debt's minimum payment is always paid; any extra you specify goes entirely toward the target debt, and once a debt is fully paid off, its old minimum payment amount rolls into the extra payment for the next one — the actual mechanic both strategies are built on.
Everything is calculated locally in your browser — nothing you enter is sent anywhere.
Frequently asked questions
- Snowball or avalanche — which is actually better?
- Avalanche (highest interest rate first) always results in paying less total interest, since it eliminates the most expensive debt fastest. Snowball (smallest balance first) usually takes slightly longer and costs a bit more, but many people find the quick wins of clearing whole debts fast easier to stick with — "Compare both" shows you the actual gap for your numbers.
- What does "rolling minimum payments" mean?
- Once a debt reaches $0, you keep paying the same total amount each month as before — its old minimum payment doesn't disappear, it gets redirected as extra payment toward your next target debt, snowballing your payoff speed as you go (hence the name).
- Does this account for changing interest rates, fees, or extra charges?
- No — it assumes a fixed APR per debt, no new charges, and consistent on-time payments every month. Real-world results will vary if any of those change.