Debt Payoff Calculator
Compare Debt Snowball vs Debt Avalanchemethods. See exactly how much you'll save and when you'll be debt-free.
Your Debts
Enter each debt below. Pre-filled with example data — replace with your own.
This calculator is for educational purposes. Actual results may vary.
How the Debt Payoff Calculator Works
Debt Snowball Method
The debt snowball method focuses on paying off your smallest debts first while making minimum payments on all others. Each time you pay off a debt, you roll that payment into the next smallest debt — creating a "snowball" effect. This method is recommended by Dave Ramsey and works well for people who need quick wins to stay motivated.
Debt Avalanche Method
The debt avalanche method targets debts with the highest interest rates first, regardless of balance. Since you eliminate the most expensive debt first, this approach saves you the most money in interest over time. If you're disciplined and focused purely on the math, this is the optimal strategy for rapid debt freedom.
Frequently Asked Questions
Should I use snowball or avalanche?
If math is your priority, use avalanche — it always saves more on interest. If motivation matters more, snowball gives you faster wins. Many people combine both: use avalanche for credit cards and snowball for smaller loans.
How much extra should I pay each month?
Even $50 extra per month can cut years off your repayment. Start with whatever you can afford consistently. Every dollar above the minimum goes directly to principal.
Does paying off debt hurt my credit score?
Paying off debt generally improves your credit score by lowering your credit utilization ratio. However, closing old accounts after payoff can temporarily reduce your score by shortening your credit history. Keep old accounts open if possible.