Debt Snowball vs Avalanche Calculator

How the snowball and avalanche compare

Both strategies start the same way: you pay the minimum on every debt so nothing goes delinquent. The difference is where your extra money goes. You pick one target debt, throw all spare cash at it until it is gone, then roll that entire freed-up payment onto the next debt. That rolling, growing payment is what gives the snowball its name — and it powers the avalanche too.

• The debt snowball targets your smallest balance first. You clear whole debts quickly, which feels good and builds momentum — the reason many people stick with it.
• The debt avalanche targets your highest interest rate first. Because it attacks your most expensive debt, it almost always wins on total interest and often on time too.

This calculator simulates both month by month. Each month it adds interest to every balance, pays each minimum, then sends whatever remains — your extra payment plus freed-up minimums — to the single target debt the strategy chooses. It counts the months to zero and every dollar of interest along the way, then highlights the cheaper strategy.

Getting the most from it

• Raise the extra payment slider and watch both timelines shrink — extra dollars go straight to principal.
• Add or edit debts to match your real situation; the comparison updates instantly.
• Weigh the trade-off: if the interest difference is small, the snowball's early wins may be worth it.

Frequently asked

What is the difference between the debt snowball and avalanche?

Both pay every minimum, then attack one debt with all spare cash. The snowball targets the smallest balance for quick wins; the avalanche targets the highest interest rate to minimize total interest.

Which method saves the most money?

The avalanche almost always wins on total interest and often on time, because it clears your most expensive debt first. The snowball can cost slightly more but keeps many people motivated.

Does the extra payment really matter?

Enormously. Minimums alone can take decades on high-rate debt. Every extra dollar goes straight to principal, shortening payoff and cutting interest under both strategies.