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Looking for Another Option?
The Debt Avalanche and Debt Snowball methods are self-directed repayment strategies. Depending on...
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Debt Avalanche and Snowball Calculator
Compare debt repayment strategies and estimate how long it could take to pay off your debt.
Understanding Your Options
Debt Avalanche Method
Make minimum payments on all debts and direct any extra money toward the debt with the highest interest rate first.
Why people choose this method:
- Typically saves the most money in interest
- Reduces the overall cost of debt
- Focuses on long-term savings
Debt Snowball Method
Make minimum payments on all debts and direct any extra money toward the debt with the smallest balance first.
Why people choose this method:
- Creates quick wins
- Builds momentum and motivation
- Reduces the number of open accounts sooner
How This Calculator Works
This calculator compares both methods using the information you enter.
It assumes:
- Interest rates remain the same
- Monthly payments remain consistent
- No new debt is added
- Payments from paid-off debts are redirected to remaining debts
The results are estimates intended for educational purposes and may differ from your creditors' actual calculations.
Build Your Debt Payoff Plan
| Debt Name | Balance ($) | APR (%) | Minimum Payment ($) |
|---|---|---|---|
Looking for Another Option?
The Debt Avalanche and Debt Snowball methods are self-directed repayment strategies. Depending on your situation, a Debt Management Plan may help reduce interest rates, simplify payments, and potentially help you pay off debt sooner.
See How a Debt Management Plan Compares
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