Compare Snowball vs Avalanche methods — see which one saves you more money
This free debt payoff calculator compares two popular debt elimination strategies: the debt snowball method and the debt avalanche method. Enter all your debts with their balances, interest rates, and minimum payments, then set your extra monthly payment. The calculator runs both strategies simultaneously and shows you the exact debt-free date, total interest paid, and month-by-month schedule for each.
The debt snowball method (popularized by Dave Ramsey) focuses on paying off the smallest balance first, regardless of interest rate. When one debt is eliminated, you roll its payment into the next smallest debt, creating a "snowball" effect. This method provides quick wins that keep you motivated.
The debt avalanche method targets the highest interest rate debt first. This is mathematically optimal — you'll pay less total interest and become debt-free sooner. However, it can take longer to see your first debt eliminated, which some people find demotivating.
Research from Northwestern University found that people using the snowball method are more likely to successfully eliminate all their debt, despite paying slightly more in interest. The best method is the one you'll actually stick with.
This debt payoff calculator is 100% free, requires no signup, and works entirely in your browser — your financial data never leaves your device. It supports unlimited debts, custom extra payments, and provides detailed month-by-month schedules. Share your debt-free date to stay accountable!