About the Debt Payoff Calculator
This tool simulates paying off several debts at once, month by month, using whichever strategy you pick. Every debt gets at least its minimum payment each month; your extra payment goes entirely toward one target debt at a time. When that target is paid off, its minimum payment joins your extra payment and rolls onto the next debt in line — the "snowball" effect that gives both methods their power. It reports your exact projected debt-free date, total interest paid, and a side-by-side comparison of Snowball against Avalanche so you can see the actual dollar difference between them, not just the general idea. Everything is calculated locally in your browser.
Snowball vs Avalanche
SnowballPay off the smallest balance first, regardless of interest rate. Clearing a full debt quickly tends to build momentum and motivation, even though it's not always the cheapest path mathematically.
AvalanchePay off the highest interest rate first, regardless of balance. This minimizes total interest paid over the life of your payoff plan — it's the mathematically optimal method.
Which one to pickAvalanche saves more money; Snowball tends to be easier to stick with for people who benefit from quick wins. The comparison table shows you exactly how much the "motivation premium" of Snowball costs in this specific case — sometimes it's small, sometimes it's significant.
The minimum-payment trapIf a debt's minimum payment doesn't cover that month's interest, the balance grows instead of shrinking no matter which method you use — this tool flags that instead of running an endless simulation.
Send Feedback
For any questions, bug reports, or feature requests, please drop your comments below.