Debt Payoff Calculator: Avalanche vs Snowball
Free debt payoff calculator comparing the avalanche (highest interest first) and snowball (lowest balance first) methods. See your months to debt freedom and total interest paid for each method.
What is the avalanche method?
Pay the minimum on every debt, then put every extra dollar toward the debt with the highest interest rate. Avalanche almost always saves the most money in interest.
What is the snowball method?
Pay the minimum on every debt, then put every extra dollar toward the smallest balance first. Snowball gives you quick wins that keep you motivated.