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Debt Payoff Planner

Enter your debts and see exactly how the snowball (smallest balance first) and avalanche (highest interest first) methods compare — time to debt-free and total interest paid, side by side.

Your debts Free

Name

Balance ($)

APR (%)

Min payment ($)

+ Add another debt

Extra monthly payment

Extra amount toward debt each month ($)

This is on top of the minimum payments above. The more you can add here, the faster either method pays off and the bigger the gap between them.

Snowball vs Avalanche

Avalanche is always the mathematically optimal choice or a tie — it targets your highest-interest debt first, so it never pays more total interest than snowball. Snowball targets your smallest balance first instead, which can't beat avalanche on interest, but many people find the quick wins of closing out small accounts keeps them motivated to stick with the plan. Neither is "wrong" — pick the one you'll actually stay consistent with.

Quick answers

Which method should I use?

If you're confident you'll stay disciplined either way, avalanche saves you money. If you've struggled to stick with a debt payoff plan before, snowball's quick wins (paying off a small card completely within a few months) can be worth the extra interest cost for the motivation boost. Some people do a hybrid: snowball on very small balances first, then avalanche for the rest.

What if I miss a payment or the extra amount changes?

This calculator assumes consistent payments every month with no missed payments, rate changes, or new debt added. Real payoff timelines will shift if any of those happen — treat this as a target plan, not a guarantee, and rerun it whenever your situation changes.

Should I pay off debt or invest instead?

A common rule of thumb: if a debt's interest rate is higher than what you'd realistically expect to earn investing (historically averaging support for low-cost index funds is often cited around 7–10% annually before inflation, though returns vary and aren't guaranteed), paying down that debt first is usually the safer, guaranteed "return." For high-interest credit card debt (typically 20%+), paying it off first is almost always the better move.