Debt payoff calculator: snowball vs avalanche
Compare highest-interest-first and smallest-balance-first using exactly the same monthly budget.
No account needed · Financial inputs are calculated in your browser · Example values shown
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Understand the assumptions
These are estimates from the values you enter. Review the assumptions in your report and check the actual terms before making a financial commitment.
How this calculator works
Compare two repayment orders while keeping your overall monthly debt budget fixed. Snowball targets the smallest balance; avalanche targets the highest interest rate. Both first allocate the entered minimum payments.
How to build a repayment plan
- Enter each current balance, annual interest rate and minimum monthly payment.
- Add the extra amount you can pay above those minimums.
- Compare estimated interest and repayment time for both methods.
- When one debt clears, keep the total payment budget unchanged to direct the released money to the remaining balances.
What if the payment is too low?
A $5,000 balance at 24% annual interest accrues $100 of interest in the first month under this monthly-interest model. A $75 payment leaves $25 unpaid, increasing the balance to $5,025 before the next month. A payoff date is not meaningful if the plan cannot clear the debt.
Why might my statement differ?
This estimate uses monthly interest, fixed entered minimums, no new purchases and no fees. Real cards may use daily interest and changing minimum-payment formulas. The model stops after 600 months and does not label an unfinished plan debt-free.
Understand payments below monthly interest and check your monthly budget.
Frequently asked question
Why does the planner keep my monthly budget constant?
When one debt is cleared, its payment goes toward the remaining debts. If you instead reduce your budget after each payoff, repayment takes longer than this illustration. The tool uses fixed monthly rates and minimum amounts, not a lender’s daily-interest or changing-minimum rules.