When to use this calculator
Compare payoff time and interest for multiple debts using snowball and avalanche repayment strategies. Enter 1–20 debts in the same order. Rates and minimum amounts stay fixed; the original total budget is maintained as debts clear. Interest accrues monthly before payments; unused money rolls into the next priority debt in that month. Excludes fees, promotional rate changes and new spending. Strategies exceeding 1,200 months are rejected.
Explore the loan & repayment calculators for other questions in this topic. For a related calculation, use the Debt to Income Calculator: Compare monthly debt payments with gross monthly income.
Keep the total budget unchanged when a debt clears
The comparison rolls freed payments into the remaining debts. Snowball prioritises the smallest balance; avalanche prioritises the highest rate. Reducing your total payment after a debt clears produces a different outcome. Fixed minimum amounts here do not reproduce every credit-card issuer’s changing minimum-payment rules.
PUTTING IT INTO PRACTICE
Debt Snowball vs Avalanche: a worked example
The values below are an illustrative example, not a recommendation. Replace them with measurements or assumptions that match your question.
| Input | Example value |
|---|---|
| Balances, in debt order | 1000,2000 |
| Annual interest rates (%), same order | 0,0 |
| Fixed monthly minimums, same order | 100,100 |
| Extra monthly budget | 100 |
| Result | Snowball: 10 months; interest 0 Avalanche: 10 months; interest 0 Avalanche interest saving: 0 |
- Check the input labels and enter the example values above.
- Apply the relationship: Pay each active minimum, then direct the remaining fixed total budget to the smallest balance (snowball) or highest rate (avalanche)..
- The result is Snowball: 10 months; interest 0 Avalanche: 10 months; interest 0 Avalanche interest saving: 0 , rounded for display.
How to interpret your result
Enter 1–20 debts in the same order. Rates and minimum amounts stay fixed; the original total budget is maintained as debts clear. Interest accrues monthly before payments; unused money rolls into the next priority debt in that month. Excludes fees, promotional rate changes and new spending. Strategies exceeding 1,200 months are rejected.
Use a fixed-rate amortising model for loans repaid by equal monthly instalments. An interest-only payment leaves the principal outstanding. Fees and contractual APR calculations require more than the interest rate alone.
Frequently asked questions
Why might both strategies give the same result?
They can prioritise the same debt order, particularly when the smallest debt also has the highest rate. Similar rates or a large payment budget can also make the outcomes close.
Does a lower monthly payment mean a cheaper loan?
Not necessarily. Extending the term can lower payments while increasing total interest. Compare both monthly affordability and overall cost.
When is the debt snowball vs avalanche calculator useful?
Compare payoff time and interest for multiple debts using snowball and avalanche repayment strategies. Enter 1–20 debts in the same order. Rates and minimum amounts stay fixed; the original total budget is maintained as debts clear. Interest accrues monthly before payments; unused money rolls into the next priority debt in that month. Excludes fees, promotional rate changes and new spending. Strategies exceeding 1,200 months are rejected.
How do I use the debt snowball vs avalanche calculator?
Enter balances, in debt order, annual interest rates (%), same order, fixed monthly minimums, same order, extra monthly budget. The result updates automatically. Use the units shown beside each input; the example values illustrate the method.
Which formula does this calculator use?
Pay each active minimum, then direct the remaining fixed total budget to the smallest balance (snowball) or highest rate (avalanche)..
What should I check before using the result?
Enter 1–20 debts in the same order. Rates and minimum amounts stay fixed; the original total budget is maintained as debts clear. Interest accrues monthly before payments; unused money rolls into the next priority debt in that month. Excludes fees, promotional rate changes and new spending. Strategies exceeding 1,200 months are rejected.
How are results rounded?
Scalar numbers display up to six decimal places, with scientific notation for very large or small values. Text, fraction, date and schedule outputs use the format described on the tool. Intermediate calculations use JavaScript floating-point arithmetic. Keep sensible precision for your measurements.
Further reading
For background on this topic, see CFPB: debt repayment strategies ↗. This is a topic reference, not an external review or endorsement of this tool.
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