Free tool
Snowball vs. avalanche calculator
Enter each debt and any extra you can pay each month. We run both methods month by month and show your debt-free date, total interest and the order balances disappear. Everything stays in your browser.
How the two methods differ
Debt snowball: pay minimums on everything, then send every extra dollar to the smallest balance. Each payoff frees its minimum, which rolls into the next debt. Quick wins keep many people going.
Debt avalanche: same idea, but extra money goes to the highest interest rate first. It never costs more interest than the snowball and often costs less.
If your minimum payment is smaller than the interest charged each month, the balance grows no matter which method you pick. The calculator will warn you; in that case, calling the lender about a hardship plan or talking to a nonprofit credit counselor is a good next step.