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Add each debt with its balance, APR and minimum payment, then the total you can pay every month. Both methods are compared side by side.
Which debt do I pay off first?
Everything happens on your device: nothing is uploaded to the internet.
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Debt snowball vs avalanche calculator: what it is for
Enter each credit card, car loan, student loan or personal loan with the balance, the APR and the minimum payment, and the total you can put toward debt every month. The calculator simulates both strategies month by month: the snowball pays the smallest balance first, the avalanche the highest APR first.
You see the months to be debt-free, the total interest paid and the order in which each debt is paid off for each method, and how much the avalanche saves compared with the snowball.
How to use
- Add your debts with balance, APR and minimum.
- Enter your total monthly payment.
- Compare the two payoff plans.
When to use it
- Credit card debt.
- Car, student and personal loans.
- Planning a debt-free date.
Frequently asked questions
What is the debt snowball method?
You pay the minimum on every debt and put all the extra money on the smallest balance. When it is paid off, its payment rolls into the next smallest, so the payment grows like a snowball. Quick wins keep many people motivated.
What is the debt avalanche method?
Same idea, but the extra money goes to the debt with the highest interest rate first. It always costs the same or less in interest than the snowball, and it is usually faster, though the first payoff can take longer.
What if my total payment doesn't cover the minimums?
Then the debts can't be paid off with that amount. The calculator warns you. Talk to your lenders or a nonprofit credit counselor about a lower rate or a payment plan.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 tools are free and run right in your browser.