Enter your debts and what you can pay each month. The calculator compares the two most common payoff orders side by side: when you’ll be debt-free, how much interest you’ll pay, and the order your debts get cleared.
This calculator gives estimates for learning and planning. It isn’t financial advice or a loan offer. Nothing you enter is saved or sent anywhere; the math runs in your browser.
Snowball or avalanche: how they differ
Both methods work the same way. You pay the minimum, then put every extra dollar toward one target. When that is gone, its minimum payment rolls into the extra amount for the next target. The only difference is which will you target first.
- Avalanche targets the highest interest rate. It always costs the same or less in interest, because the most expensive balance shrinks first.
- Snowball targets the smallest balance. You pay off your first sooner, and some people find those early wins make it easier to keep going.
If the calculator shows only a small interest difference, choose the method you’re more likely to stick with. A plan you finish beats a cheaper plan you abandon.
How the calculator works
- Each month, interest is added to each balance at its APR divided by 12, then payments are applied.
- Your monthly budget stays fixed at the total of all minimums plus your extra amount. As these are paid off, their minimums roll over to the next target.
- It assumes you stop adding new charges and your rates don’t change. Credit card minimums usually drop as the balance falls. This calculator keeps them fixed, which is what you’d want to do anyway.