Debt Payoff Calculator
Compare the avalanche and snowball debt payoff strategies across multiple debts to see which gets you debt-free faster and for less total interest.
Strategy
Months to debt-free
35
Total interest paid
$2,997
Avalanche
35 months · $2,997 interest
Snowball
36 months · $3,285 interest
Payoff order (avalanche)
- 1. Credit Card — month 17
- 2. Personal Loan — month 21
- 3. Car Loan — month 35
Show full monthly schedule (avalanche)
| Month | Paid | Interest | Remaining Balance |
|---|---|---|---|
| Month 1 | $750.00 | $196.67 | $22,446.67 |
| Month 2 | $750.00 | $190.11 | $21,886.77 |
| Month 3 | $750.00 | $183.44 | $21,320.22 |
| Month 4 | $750.00 | $176.68 | $20,746.90 |
| Month 5 | $750.00 | $169.82 | $20,166.72 |
| Month 6 | $750.00 | $162.85 | $19,579.57 |
| Month 7 | $750.00 | $155.77 | $18,985.34 |
| Month 8 | $750.00 | $148.59 | $18,383.93 |
| Month 9 | $750.00 | $141.30 | $17,775.23 |
| Month 10 | $750.00 | $133.89 | $17,159.12 |
| Month 11 | $750.00 | $126.37 | $16,535.49 |
| Month 12 | $750.00 | $118.74 | $15,904.23 |
| Month 13 | $750.00 | $110.98 | $15,265.21 |
| Month 14 | $750.00 | $103.11 | $14,618.32 |
| Month 15 | $750.00 | $95.11 | $13,963.43 |
| Month 16 | $750.00 | $87.00 | $13,300.43 |
| Month 17 | $750.00 | $78.75 | $12,629.18 |
| Month 18 | $750.00 | $71.20 | $11,950.38 |
| Month 19 | $750.00 | $65.64 | $11,266.02 |
| Month 20 | $750.00 | $60.02 | $10,576.04 |
| Month 21 | $750.00 | $54.36 | $9,880.40 |
| Month 22 | $750.00 | $49.40 | $9,179.81 |
| Month 23 | $750.00 | $45.90 | $8,475.71 |
| Month 24 | $750.00 | $42.38 | $7,768.08 |
| Month 25 | $750.00 | $38.84 | $7,056.92 |
| Month 26 | $750.00 | $35.28 | $6,342.21 |
| Month 27 | $750.00 | $31.71 | $5,623.92 |
| Month 28 | $750.00 | $28.12 | $4,902.04 |
| Month 29 | $750.00 | $24.51 | $4,176.55 |
| Month 30 | $750.00 | $20.88 | $3,447.43 |
| Month 31 | $750.00 | $17.24 | $2,714.67 |
| Month 32 | $750.00 | $13.57 | $1,978.24 |
| Month 33 | $750.00 | $9.89 | $1,238.13 |
| Month 34 | $750.00 | $6.19 | $494.33 |
| Month 35 | $496.80 | $2.47 | $0.00 |
How it's calculated
Each month, every debt accrues interest, then gets its minimum payment. Any extra payment you specify — plus the minimum payments freed up from debts you've already paid off — gets applied entirely to one "target" debt at a time.
The avalanche strategy always targets the debt with the highest interest rate, which minimizes total interest paid over time. The snowball strategy always targets the debt with the smallest balance, which pays off individual debts faster and can be more motivating, even if it costs slightly more in total interest.
As each debt is paid off, its minimum payment rolls over and joins the extra payment pool, accelerating whichever debt is targeted next — this snowballing effect is what makes both strategies speed up over time.
Worked example
Three debts — a $5,000 credit card at 22% APR ($150 minimum), a $15,000 car loan at 6% APR ($300 minimum), and a $3,000 personal loan at 12% APR ($100 minimum) — with a $200/month extra payment.
Avalanche pays off the credit card first (month 17), then the personal loan (month 21), then the car loan (month 35), paying $2,996.80 in total interest.
Snowball pays off the personal loan first (month 11), then the credit card (month 22), then the car loan (month 36), paying $3,285.37 in total interest — one month slower and $288.57 more in interest than avalanche, in this example.
Frequently Asked Questions
- Which strategy should I use: avalanche or snowball?
- Avalanche saves more money mathematically, since it always tackles the most expensive debt first. Snowball can be more motivating psychologically, since you eliminate individual debts faster — pick whichever you're more likely to stick with, since consistency matters more than a small difference in total interest.
- Why does paying off a debt early help the others?
- Once a debt is paid off, you no longer owe its minimum payment — that freed-up money rolls into your extra payment pool and accelerates whichever debt you're targeting next. This compounding effect is why payoff speed increases over time.
- What if my minimum payments don't cover the interest?
- If a debt's minimum payment is smaller than the interest it accrues each month, its balance will grow instead of shrink unless it receives extra payments. This calculator will flag debts that don't fully pay off within a 50-year horizon under your current inputs.