Debt Payoff Calculator
Compare the snowball and avalanche orderings across several debts.
Result
Months to clear everything: 34 months
It assumes the payment pool never changes, no new borrowing, and fixed minimums. Real card minimums fall as balances fall, which makes both orderings slower.
- Total interest
- $6,449.94
- Total paid
- $28,949.94
- Total interest the other way
- $6,911.41
- Interest difference
- $461.47
- First debt cleared
- Card A
https://calcgallery.com/finance/debt-payoff-calculator/
Results are arithmetic estimates based on the values you enter. Rates, fees and terms are set by your lender or provider, and your actual agreement controls what you pay or receive. Confirm important figures with them or with a qualified adviser. Read the full disclaimer
How to use the Debt Payoff Calculator
- Add a row for each debt with its balance, annual rate and minimum payment.
- Enter what you can pay each month on top of all the minimums.
- Switch between avalanche and snowball to see what each ordering costs.
Both methods pay the same amount
The total leaving your account each month is identical under either ordering: every minimum, plus whatever extra you have. What changes is where the extra goes.
each month: every open debt accrues interest and receives its minimum the extra, plus the minimums freed by cleared debts, all goes to one targetThe target is the smallest balance under snowball, or the highest rate under avalanche. When a debt clears, its minimum is not released back into general spending: it joins the pool and accelerates the next target. That rolling effect is what makes either method much faster than paying minimums alone.
Avalanche is never more expensive
Interest accrues fastest on the highest rate, so clearing that balance first removes the most interest. Avalanche therefore costs the same or less than snowball, always. The gap is usually modest — a few hundred on typical consumer balances — and it grows when the rates are far apart.
Snowball’s argument is behavioural rather than mathematical. Clearing an account entirely is a visible result, and people who find that motivating are more likely to keep going. A plan followed beats a cheaper plan abandoned, which is a real consideration even though this calculator cannot measure it.
What the minimums assume
Minimums here are fixed for the whole run. Real card minimums are usually a percentage of the balance and fall as it drops, which slows repayment considerably for anyone paying only the minimum. Because this model directs every spare payment at one debt and never reduces the pool, it is closer to how a deliberate payoff plan actually behaves than to how a card issuer bills.
Enter the minimum you will actually keep paying, not the smallest the issuer will accept.
Where the model stops
It assumes no new borrowing, no fees, no promotional rate expiring mid-plan and no change in the money available. Any of those changes the answer, usually for the worse.
It also does not consider balance transfers or consolidation, which change the rates themselves rather than the order of repayment. If a transfer offer is available, run the numbers again with the new rate and the transfer fee added to the balance.
With your numbers
- Every debt gets its minimum; the extra $300.00 goes to the highest rate first
- Everything clears in 34 months, costing $6,449.94 in interest
- The other ordering costs $6,911.41, a difference of $461.47
Quick reference
It assumes the payment pool never changes, no new borrowing, and fixed minimums. Real card minimums fall as balances fall, which makes both orderings slower.
| Example | Months to clear everything |
|---|---|
| Three debts, 300 extra, avalanche | 34 |
| Three debts, 300 extra, snowball | 34 |
| Three debts, minimums only | 64 |
| Two cards, 200 extra | 18 |
| One card only | 15 |
| Card, car loan and student loan | 38 |
| EUR two balances, 250 extra | 24 |
| EUR three balances, snowball | 26 |
Common questions about the Debt Payoff Calculator
- What is the difference between snowball and avalanche?
- Both pay every minimum and put all spare money on one debt. Snowball targets the smallest balance, so the first payoff comes sooner. Avalanche targets the highest rate, which always costs the same or less in interest.
- Which one should I choose?
- Avalanche is never more expensive, so it wins on arithmetic. Snowball clears an account sooner, which some people find easier to keep up. The calculator shows both numbers and leaves the choice to you.
- Why do both orderings sometimes finish in the same month?
- Because the total paid each month is the same either way. Only the split between debts changes, so the last debt often clears in the same month while the interest totals differ.
- Should I include my mortgage?
- Usually not. It is typically the lowest rate you hold and the largest balance, so it would absorb every spare payment under snowball and distort the comparison. This page is aimed at consumer debt.