Debt Payoff Calculator
Compare snowball vs avalanche payoff plans across all your debts. See months to debt-free, total interest, and how much you save with extra payments.
Your debts
Name
Balance ($)
Rate (%)
Min/mo ($)
Strategy
Debt-free in
2 yr 11 mo
35 months total
Total paid
$27,287
Total interest
$4,087
Interest saved vs minimums
$4,042
Adding the extra payment pays you off 19 months sooner than minimums alone.
Payoff order
- 1. Credit cardpaid off month 24 | interest $1,602
- 2. Personal loanpaid off month 28 | interest $781
- 3. Auto loanpaid off month 35 | interest $1,704
Frequently Asked Questions about the Debt Payoff Calculator
Snowball vs avalanche: which one should I pick?
Avalanche (highest rate first) always costs less in interest, often by hundreds or thousands of dollars. Snowball (smallest balance first) kills small debts faster, so you see wins early and stay motivated. If money is the only thing that matters, pick avalanche. If you have quit payoff plans before, pick snowball.
When does the snowball actually beat the avalanche?
On paper, never. In practice, snowball wins when momentum matters more than math: if your smallest debt clears in 2-3 months, that early win often keeps people on the plan long enough to finish. Studies from consumer-finance researchers (e.g. Gal and McShane) found snowball users were more likely to stay on track.
When is avalanche clearly the right call?
When at least one debt has a much higher rate than the others (credit cards at 20%+ next to a 6% car loan), the math gap gets large fast. Avalanche also wins more clearly when balances are similar in size, because snowball loses its motivational edge.
What is the average credit card APR right now?
US credit card APRs have hovered around 21-23% on average through 2025, per Federal Reserve data. Store cards often run 27-30%. That is why credit cards almost always end up first in an avalanche plan.
Should I consolidate my debts instead?
Maybe. A balance-transfer card with a 0% intro period, or a personal loan at a lower rate than your highest card, can shorten the payoff without changing your payment. Consolidation only helps if the new rate (including fees) is genuinely lower and you stop adding new charges.