Debt Payoff: Snowball vs Avalanche
List your debts and an extra monthly payment. The avalanche method attacks the highest interest rate first (mathematically cheapest); the snowball attacks the smallest balance first (psychologically easier). See which clears your debt faster and how much interest each saves - both keep your total monthly payment constant and roll each cleared debt's payment into the next.
Total debt
$0
Debt-free in
-
Interest (avalanche)
$0
Avalanche saves
$0
Your debts
Debt nameBalanceAPR %Min /mo
$
Method comparison
Balance over time
Avalanche Snowball
Your payoff plan - what to pay, and when
Each month, every debt accrues interest at APR÷12, minimum payments are made on all active debts, and all remaining money (extra payment plus the minimums freed up by already-paid debts) is thrown at the target debt - highest APR for avalanche, smallest balance for snowball. Avalanche always pays the least total interest. Snowball can feel better because you clear individual debts sooner. If a debt's minimum doesn't cover its monthly interest, it will never amortize - raise the minimum or extra payment.