Debt Snowball vs. Avalanche Calculator

Compare the debt snowball (lowest balance first) and debt avalanche (highest interest first) methods. See which saves more money and time.

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Understanding Snowball vs. Avalanche

The Debt Avalanche Method (Highest Interest First)

The Debt Avalanche is the most logical strategy from a purely mathematical perspective. You pay the minimum on all your debts, then apply all your extra money to the debt with the **highest interest rate (APR)**, regardless of its balance.

Once that debt is paid off, you "roll" its minimum payment plus all your extra money onto the debt with the *next* highest interest rate. This process continues until all debts are gone.

  • Pro: This method always saves you the most money on interest.
  • Con: If your highest-interest debt is a large one (like a student loan), it can take a long time to pay off, which can feel discouraging. Focusing on one specific debt? Try our Credit Card Payoff Calculator.

The Debt Snowball Method (Lowest Balance First)

The Debt Snowball is a behavioral strategy designed to build momentum. You pay the minimum on all debts, then apply all your extra money to the debt with the **smallest balance**, regardless of its interest rate.

Once that small debt is paid off, you get a quick psychological "win." You then "roll" its minimum payment plus your extra money onto the debt with the *next* smallest balance. This creates a "snowball" of payment that grows larger as you knock out each debt.

  • Pro: Provides quick wins and strong motivation, making you more likely to stick with the plan.
  • Con: You will almost always pay more in total interest compared to the avalanche method because you are letting high-interest debts sit for longer.

Which Method is Better?

This calculator shows you the hard numbers. The **Avalanche** method will save you more money. The **Snowball** method might get you debt-free faster if the "wins" keep you motivated.

Many financial experts agree: the best plan is the one you will actually stick to. If the motivation from small wins will keep you going, the Snowball might be right for you. If you are driven by numbers and want to save the most money possible, choose the Avalanche. Curious about how many hours of work your debt represents? Use the "Time to Earn" Calculator.

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