Debt Snowball Calculator & Avalanche Planner

Both pay the minimum on every debt and put all the extra money on one target debt. Snowball targets the smallest balance first; avalanche targets the highest interest rate (APR) first. When a debt is paid off, its payment rolls into the next target, so the amount you pay each month never drops.

Avalanche almost always costs less interest, because the money goes where it's charged most. Snowball clears small debts sooner, which some people find easier to stick with. With the example debts below and $700 a month, avalanche saves $136.70 over snowball and both finish in month 22. The best plan is the one you keep paying.

Usually a little, and sometimes nothing. When the smallest debt also has a high rate, both methods pick it first. The gap grows when a large balance carries the highest rate. In the example it is $136.70 on $13,600 of debt, or 1.0% of the amount owed.

The balance grows every month. A $5,000 card at 24% APR charges about $100.00 interest in the first month, so a $90 minimum never pays it off. The calculator flags these debts. In a snowball or avalanche plan the debt keeps growing until it becomes the target; paying $150 a month instead clears it in 4 yr 8 mo.

Both methods assume every debt gets at least its minimum each month, which avoids late fees and damage to your credit. Only money above the minimums is free to go to the target. If your budget is below the total of the minimums, the calculator asks you to raise it.

When a debt is paid off, the money you were paying on it (its minimum plus any extra) moves to the next debt instead of going back into your pocket. Your total payment stays the same until everything is paid. If a debt is paid off partway through a month, the rest of that month's money goes straight to the next debt.

In the example, paying $700 a month instead of only the $381 of minimums saves $2,742.85 in interest with avalanche and makes you debt-free 3 yr sooner (1 yr 10 mo instead of 4 yr 10 mo).

It depends on the balances, rates and how much you can pay each month. The example's $13,600 across four debts is cleared in 1 yr 10 mo at $700 a month with avalanche, but takes 4 yr 10 mo paying only the $381 of minimums. The calculator shows the debt-free month and when each debt is cleared.

Yes. Pick Custom order and use the arrows to put the debts in the order you want; extra money goes to them top to bottom. That suits plans such as clearing a card with a promotional rate ending soon, or a debt you'd rather be rid of first.

Yes. Any debt with a balance, an interest rate and a monthly payment works. For a fixed-payment loan, enter the regular monthly payment as its minimum. A loan with 0% interest can be entered with an APR of 0.

It is an estimate. Interest is worked out monthly as balance × APR ÷ 12 and minimum payments are fixed amounts. Lenders often charge interest on the daily balance, and credit card minimums usually fall as the balance falls, so real figures will differ a little. It assumes no new borrowing, fees or rate changes.

No. Everything is calculated in your browser. Nothing is stored or uploaded.