Compare paying off smallest balances first against highest interest rates first — see which saves more time and money.
| Name | Balance | APR % | Min Payment |
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| Order | Debt | Balance | APR |
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| Order | Debt | Balance | APR |
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List each debt with its current balance, annual interest rate, and minimum monthly payment. Enter how much extra you can put toward debt each month beyond the minimums. The calculator then simulates two payoff orders side by side: snowball, which targets the smallest balance first, and avalanche, which targets the highest interest rate first.
The snowball method directs all extra payment toward the debt with the smallest balance, regardless of its interest rate, while paying minimums on everything else. Once that debt is paid off, its former payment rolls into the next smallest balance, and so on. The appeal is psychological: quick wins early on tend to build motivation to keep going.
The avalanche method directs all extra payment toward the debt with the highest interest rate first, regardless of its balance size. Mathematically, this minimises total interest paid and the total time to become debt-free, since high-interest balances are the most expensive to carry over time.
Avalanche is mathematically optimal and will save the most money in interest, but snowball's quick early wins help some people stay motivated and consistent. If you're confident you'll stick with a plan either way, avalanche saves more; if early momentum matters more to you for follow-through, snowball can still be the better real-world choice.
When balances are tied under the snowball method, or interest rates are tied under the avalanche method, the order between them doesn't meaningfully affect the result — either can be tackled first without a real cost difference.
Yes. Minimum payments continue on every debt throughout the simulation; only the extra monthly amount you specify is redirected toward the targeted debt in each strategy, following that strategy's payoff order.