Quick answer
List your debts with balance, APR and minimum payment, add any extra you can pay each month, and compare the avalanche method (highest APR first) with the snowball method (smallest balance first). Avalanche usually costs less interest; snowball gives earlier wins.
This debt payoff calculator compares the two most common payoff strategies, avalanche and snowball, using your real balances, APRs and minimum payments. Enter up to five debts and any extra amount you can add each month. The results show how many months until you are debt-free, the total interest, and the order your debts get paid off.
How the calculator works
Each month it:
- Adds one month of interest to every balance (balance x APR / 12).
- Pays the minimum on every open debt.
- Sends your extra amount, plus any minimums freed up by debts already paid off, to the target debt:
- Snowball: the smallest balance.
- Repeats until every balance is zero.
Your total monthly budget (all minimums plus the extra) stays the same the whole way, which is how the payments "roll" from one debt to the next.
Worked example (clearly labeled)
The calculator loads with four example debts totaling $13,600:
| Debt | Balance | APR | Minimum |
|---|---|---|---|
| Card A | $4,500 | 24.99% | $135 |
| Card B | $2,200 | 19.99% | $66 |
| Store card | $900 | 29.99% | $35 |
| Personal loan | $6,000 | 11.99% | $199 |
With $150 extra each month (a $585 total monthly budget):
| Strategy | Months to debt-free | Total interest |
|---|---|---|
| Avalanche | 29 | about $3,155 |
| Snowball | 30 | about $3,501 |
| No extra (minimums only, rolled forward) | 45 | about $5,647 |
Here avalanche saves about $346 compared with snowball and finishes a month sooner. Adding the $150 extra saves about $2,490 compared with paying only the minimums. Your numbers will differ, so replace the examples with your own.
Choosing a method
- Pick avalanche if your highest-APR debts are also large, or if the savings shown are meaningful to you.
- Pick snowball if you have several small balances and quick wins will keep you going.
- Either way, the biggest lever is the extra amount. Try changing it from $150 to $250 and watch the payoff date move.
When payoff alone is not enough
If the minimums do not fit your budget, or the calculator shows "Never," you need a lower rate or a structured plan:
- Nonprofit credit counseling. The FTC recommends reputable nonprofit counselors who can review your budget and may set up a debt management plan with reduced interest. See debt management plans.
- A consolidation loan, if the APR and fees are lower than what you pay now. Learn how debt consolidation works and test offers in the debt consolidation calculator.
- Call your creditors. Ask about hardship programs or a lower rate before you fall behind.
Be wary of debt settlement companies that ask for fees upfront or tell you to stop paying. The FTC warns that it is illegal for debt relief companies that sell by phone to charge you before they settle or reduce your debt.
Tips that make any plan work
- Set every minimum payment on autopay so nothing slips.
- Stop adding new charges to cards you are paying down.
- Put windfalls (tax refunds, bonuses) toward the target debt.
- Revisit the plan when a debt is paid off or a rate changes.
For a single card, the credit card payoff calculator is simpler and also shows the payment needed to hit a target date.
Results are estimates for planning only. Lenders and card issuers calculate interest daily and may set minimum payments differently. Nothing you type in the calculator is saved or sent, and nothing here is an offer of credit.
Questions about debt payoff calculator: avalanche vs snowball method
What is the avalanche method?
Pay the minimum on every debt and send all extra money to the debt with the highest APR. When it is paid off, roll that payment to the next-highest APR. It usually minimizes total interest.
What is the snowball method?
Pay the minimum on every debt and send extra money to the smallest balance first. When it is gone, roll that payment into the next-smallest. It often costs a bit more interest but gives quick wins that help some people stay motivated.
Which is better, avalanche or snowball?
Avalanche is cheaper on paper. Snowball can be better in practice if early wins keep you on track. Use the calculator to see how big the difference is for your own debts; sometimes it is small.
Should I consolidate instead?
A consolidation loan can help if its APR, including fees, is lower than your average rate and you stop adding new debt. Compare with the debt consolidation calculator.
What happens when one debt is paid off?
The calculator keeps your total monthly budget the same, so the freed-up minimum payment rolls onto the next debt in line. That rollover is what speeds up both methods.
Related calculators and guides
- Credit Card Payoff Calculator: How Long to Pay Off Your Card
- Debt Consolidation Loan Calculator: Will It Save You Money?
- How Does Debt Consolidation Work? Steps and an Example
- What Is a Debt Management Plan?
- Calculators
Sources
- FTC: How To Get Out of Debt (accessed 2026-10-08)
- CFPB: What is the difference between credit counseling and debt settlement, debt consolidation, or credit repair? (accessed 2026-10-08)
- Federal Reserve G.19 Consumer Credit (interest rates) (accessed 2026-10-08)
- National Foundation for Credit Counseling (accessed 2026-10-08)
Last updated 2026-10-08. How we research and update pages.