Debt Payoff Calculator
Compare the snowball and avalanche methods for paying off your debts, and see what it takes to be debt-free by a date you choose.
Your debts
On top of all your minimums. Snowball and avalanche both keep paying the same total each month, so when a debt is paid off its minimum rolls into the next one.
Using the avalanche method, you could be debt-free in
2 years, 7 months
- Minimums onlyDebt-free in 6 years, 10 months$7,617interest
- SnowballDebt-free in 2 years, 7 months$2,939interest
- AvalancheDebt-free in 2 years, 7 months$2,613interest
In 3 years, you'd still owe
- Minimums only$6,653
- SnowballDebt-free ✓
- AvalancheDebt-free ✓
How your total debt shrinks
Hover (or use the arrow keys) to compare methods at any point in time.
See the numbers
| When | Minimums only | Snowball | Avalanche |
|---|---|---|---|
| Now | $17,000 | $17,000 | $17,000 |
| 3 mo | $16,195 | $15,591 | $15,583 |
| 6 mo | $15,372 | $14,149 | $14,110 |
| 9 mo | $14,529 | $12,672 | $12,579 |
| 1 yr | $13,667 | $11,135 | $10,985 |
| 1.3 yrs | $12,785 | $9,528 | $9,326 |
| 1.5 yrs | $11,881 | $7,848 | $7,599 |
| 1.8 yrs | $10,956 | $6,090 | $5,800 |
| 2 yrs | $10,009 | $4,250 | $3,936 |
| 2.3 yrs | $9,038 | $2,358 | $2,040 |
| 2.5 yrs | $8,221 | $436 | $113 |
| 2.8 yrs | $7,447 | $0 | $0 |
| 3 yrs | $6,653 | $0 | $0 |
The order each method pays your debts off
Snowballsmallest balance first
- 1.Personal loanmonth 8
- 2.Credit cardmonth 24
- 3.Car loanmonth 31
Avalanchehighest interest rate first
- 1.Credit cardmonth 22
- 2.Personal loanmonth 23
- 3.Car loanmonth 31
Snowball
Pay the minimum on everything, then throw every extra dollar at your smallest balance. You knock out debts quickly, which feels great and keeps many people going.
Avalanche
Pay the minimum on everything, then throw every extra dollar at your highest interest rate. It costs the least in interest, but the first win can take longer.
An estimate, not financial advice. This assumes fixed minimum payments, interest that compounds monthly at each debt's APR, and no new charges or fees. Credit card minimums usually shrink as your balance does, and loans may have their own rules for extra payments, so check your statements. If you're struggling with debt, a nonprofit credit counselor can help for free or at low cost.