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Debt Snowball & Avalanche Calculator

List your debts and monthly budget, then compare the snowball and avalanche payoff strategies side by side — which one clears your debts faster and which saves more in interest?

Your Debts
$
Lowest-cost strategy
☃ Snowball Smallest balance first
Debt-free in
Total interest paid
🏔 Avalanche Highest rate first
Debt-free in
Total interest paid
How this works: Both methods pay the minimum on every debt, then throw all spare budget at one target debt until it's gone — rolling that freed-up money onto the next. The avalanche targets the highest interest rate first, so it always costs the least in total interest. The snowball targets the smallest balance first, giving you quick wins that many people find more motivating, usually at a small extra cost. The best method is the one you'll actually stick to.

Snowball vs Avalanche — what’s the difference?

Both strategies work the same way mechanically: you pay the minimum on every debt, then throw all your spare budget at one target debt until it’s gone, rolling that freed-up money onto the next. The only difference is the order.

Which should I choose?

The avalanche always wins on paper. But the best strategy is the one you’ll actually follow through on. Research consistently shows that people who feel early progress are more likely to stay the course — which is why many financial coaches recommend the snowball despite its higher mathematical cost. If the interest saving between the two is small, the snowball's motivation advantage usually tips the decision.

The power of rolling payments

The key to both strategies is not reducing your total monthly payment when a debt is cleared. That freed-up money rolls onto the next target, accelerating payoff dramatically. Enter your total monthly budget above — including minimum payments across all debts — and the calculator handles the rolling automatically.

Assumptions & What's Not Included

This models paying off multiple debts using the snowball method (smallest balance first). Assumptions include:

The snowball is a planning guide to keep you motivated. Your actual payoff will vary with rate changes and real minimum-payment rules.

Worked example

You have three debts — a $3,000 card at 22%, a $6,000 card at 18% and a $10,000 loan at 9% — and $600 a month to put toward them.

Total debt$19,000
Monthly budget$600
Snowball orderSmallest balance first ($3,000 card)
Avalanche orderHighest rate first (22% card)
Which costs lessAvalanche (less total interest)
What it tells you: Both methods clear the debts in a similar time, but the avalanche (highest rate first) always pays the least total interest, while the snowball (smallest balance first) gives quicker wins that many people find more motivating. Enter your own debts to see the exact months and interest for each.

Frequently Asked Questions

What is the debt snowball method?

The debt snowball method involves paying minimums on all debts and putting any extra money toward the smallest balance first. When that debt is cleared, you roll its payment onto the next smallest. It prioritises motivation through quick wins over minimising total interest paid.

What is the debt avalanche method?

The debt avalanche method involves paying minimums on all debts and putting extra money toward the debt with the highest interest rate first. It minimises total interest paid and is mathematically the cheapest way to clear debt, though early wins can take longer than the snowball method.

Is the snowball or avalanche method better?

The avalanche saves more money in total interest. The snowball provides faster early wins and is often better for motivation. The best method is whichever one you will actually stick to. This calculator shows the difference in cost between the two for your specific debts so you can make an informed choice.

Is this calculator private? Do you store my data?

Yes, it is completely private. Every calculation runs locally in your browser, so the figures you enter are never sent to a server, never stored, and never shared. There are no accounts and no sign-up.

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