Your Debts
Fill in each balance, APR, and minimum payment. Add an optional extra amount to throw at the target debt.
Snowball: months to payoff
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Snowball: total interest
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Avalanche: months to payoff
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Avalanche: total interest
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Snowball payoff order
Avalanche payoff order
Debt Payoff Strategies Explained
The debt snowball method prioritizes the smallest balance first to build momentum. The debt avalanche method targets the highest interest rate first to reduce total interest paid. Both approaches can work; the best choice is the one you can stick with.
How these strategies work
- Pay minimums on all debts to avoid late fees and penalties.
- Put any extra payment toward the target debt (smallest balance or highest rate).
- After a debt is paid off, roll that payment into the next target.
Tips for accurate inputs
- Use each debt's current balance and APR.
- Include minimum payments required by your lender.
- Account for promotional rates that may change over time.
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