Snowball vs avalanche — which is better?

Avalanche (highest APR first) always saves the most money mathematically. Snowball (smallest balance first) gives psychological wins and helps many people stick with the plan. Both work — the best method is the one you'll follow.

What's 'extra monthly payment'?

Money beyond the combined minimums that you'll apply to one debt at a time. Once a debt is paid off, its minimum payment rolls over to attack the next target.

Debt Payoff Calculator

Finance· 37 tools

Free debt payoff calculator. Add each debt (balance, APR, minimum payment) and choose snowball (smallest first) or avalanche (highest APR first). See months until debt-free, total interest paid, and monthly payment projections.

Name

Balance

APR %

Min Pay

Extra monthly payment

Total Debt

$28,000.00

Debt-free in

4y 4m

Total Interest

$4,919.97

$29k$22k$14k$6k$-1400

Y0Y2Y4

Payoff order (avalanche)

1. Credit Card
2. Car Loan
3. Student Loan

Disclaimer: For informational purposes only. This is not financial, tax, or legal advice — consult a licensed professional before making decisions.

Frequently Asked Questions

References

Paying off debt — planning guide — Consumer Financial Protection Bureau

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Frequently Asked Questions

References and sources

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