FinoMath

Debt Payoff Calculator

Compare avalanche vs. snowball strategies to pay off multiple debts.

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Avalanche: total interest

$2,918

Pays highest-rate debt first

Avalanche months

34

Snowball months

34

Snowball interest

$3,259

Interest difference

$341

How this works

Enter each debt's balance, interest rate, and minimum payment, plus any extra amount you can put toward payoff each month. As each debt is paid off, its minimum payment is redirected toward the next target debt.

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Frequently Asked Questions

What is the difference between avalanche and snowball methods?

The avalanche method directs extra payments toward the debt with the highest interest rate first, minimizing total interest paid. The snowball method targets the smallest balance first, which can provide faster psychological wins even if it costs slightly more in interest.

Which method should I choose?

Avalanche typically saves more money. Snowball can be more motivating if you value quick progress. Compare both results above and choose the one that fits your situation.