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Debt snowball vs avalanche calculator

Same debts, same monthly payment, two orders. See the debt-free date, the interest and the first win for each.

Your debts
Balances, rates and minimums from your latest statements. Nothing is sent anywhere.
Debt 1
Debt 2
Debt 3
$
Currency
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Debt-free with avalanche

Jul 2028

Avalanche costs $148.87 less interest; snowball clears its first debt in the same month. Both pay $510.00 a month.
Avalanche and snowball side by side
AvalancheHighest rate firstSnowballSmallest balance first
Debt-freeJul 202821 paymentsJul 202821 payments
Total interest$1,632$1,781
First debt goneApr 2027Store cardApr 2027Store card

Paying only the minimums would take until Jul 2031 and cost $4,167 in interest.

  • Avalanche
  • Snowball
  • Minimums only
Total balance by month: avalanche, snowball and minimum payments only$0$2,500$5,000$7,500$10,000NowAug 2027Jun 2028Apr 2029Feb 2030Dec 2030
DebtAvalancheSnowball
Visa card$4,800 at 24.99%Jul 2028Third paid offJul 2028Third paid off
Store card$900 at 29.9%Apr 2027First paid offApr 2027First paid off
Car loan$3,200 at 6.9%May 2028Second paid offOct 2027Second paid off

Keep this plan up to date

Save these debts to a free account: each payment lands on your pay-cycle calendar, and your safe-to-spend number accounts for it.

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How the two methods work

Every month you pay the minimum on every debt. The extra money you can spare, plus the minimum of any debt you have already paid off, goes to one target. Snowball targets the smallest balance; avalanche targets the highest interest rate. The total you pay each month stays the same until the last debt is gone.

Reading the result

If avalanche shows much less interest, the rate differences between your debts are large. If the two are close, the order matters less than the extra amount: try raising it and watch the debt-free date move.

These results are arithmetic on the numbers you enter, not financial advice. Lenders compound interest daily and may change minimum payments, so real statements will differ a little.

Questions

What is the difference between the debt snowball and the debt avalanche?

Both pay the minimum on every debt and put all extra money on one debt at a time. The snowball picks the smallest balance first; the avalanche picks the highest interest rate first. When a debt is paid off, its minimum rolls over to the next one in line.

Which one saves more money?

For the same debts and the same monthly payment the avalanche usually costs less interest, and the snowball often pays off a first debt sooner. The calculator shows both numbers for your debts so you can see how big the difference is.

Why does the calculator say "not at this pace"?

When the monthly payments are smaller than the interest added each month, the balance grows instead of shrinking and the debt is never paid off. Adding an extra amount per month shows how much is needed to turn it around.

How is the interest calculated?

Each month, every open balance is charged its annual rate divided by twelve, then the payments are applied. Card issuers compound daily, so real statements will be slightly different, but the comparison between the two orders holds.

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