Snowball vs. avalanche, payoff timeline, and the interest each strategy costs you.
Each month every minimum gets paid, the extra goes to the target debt, and when a debt is gone its payment rolls into the next one (the "debt snowball" effect — both strategies use it; they differ only in which debt gets targeted first).
| # | Debt | APR | Paid off in |
|---|
This debt payoff calculator compares the snowball method (smallest balance first) against the avalanche method (highest rate first), showing how long each takes to clear your debts and how much interest each one costs along the way.
Snowball pays the smallest balance first for quick wins; avalanche pays the highest interest rate first to minimize total interest. Avalanche is cheaper, snowball is more motivating.
The avalanche method saves the most money mathematically, but the snowball method's early wins help many people stay motivated enough to finish.
Any payment above the minimum goes to principal, shrinking the balance interest is charged on and pulling your debt-free date forward.