Debt Payoff Calculator

Snowball vs Avalanche

Both methods help you become debt-free, but they work differently. The Snowball method focuses on psychological wins by eliminating small debts first. The Avalanche method minimizes total interest by paying highest-rate debts first.

Snowball Method

Pay minimum on all debts, then put extra money toward the smallest balance. Once that's paid off, roll that payment into the next smallest debt. This method provides quick wins and motivation.

Avalanche Method

Pay minimum on all debts, then put extra money toward the highest interest rate debt. This mathematically minimizes total interest and gets you debt-free faster financially.

Which Should You Choose?

• Snowball: If you need motivation and psychological wins
• Avalanche: If you want to save the most money on interest
• Hybrid: Some people combine both approaches