Snowball vs. Avalanche — which strategy frees you faster?
What is this? Two proven strategies exist for paying off multiple debts. Snowball (pay smallest balance first) gives quick wins that build motivation. Avalanche (pay highest interest first) saves the most money mathematically. This calculator compares both — and shows exactly how much extra payments help.
The math: Paying $200 extra/month on a $10K balance at 22% APR cuts 6 years off and saves $4,800 in interest vs. minimum payments.
Who it's for: Anyone with multiple debts trying to create a payoff strategy.
Monthly Payment Budget
Your Debts
Payoff Comparison
Total Debt
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Payoff Date
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Total Interest Paid
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vs. Min Payments Only
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interest saved
Time Saved
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Months to Freedom
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Payoff Order
Results are estimates. Actual payoff depends on exact due dates, statement closing dates, and lender behavior. Consult a financial counselor for debt management plans.