SmartRateToolsDebt Payoff Calculator
Enter your balances, APRs, and minimum payments to compare debt snowball and debt avalancheside-by-side. Use it to decide whether motivation or interest savings matters more for your plan.
Include all minimum payments plus any extra amount you can throw at debt each month.
Your Debts
Total Debt
$15,000
Minimum required: $395 / month
Strategy comparison
Debt Snowball
19 months
Interest paid: $1,306
Debt Avalanche
19 months
Interest paid: $1,240
Snowball vs Avalanche: what's the difference?
Snowball pays the smallest balance first, which creates quick wins and momentum. Avalanchepays the highest interest rate first, which usually lowers total interest paid.
Both methods work. The best one is the one you can stick to for the full payoff timeline.
Tip: If possible, increase your monthly debt budget whenever you get a raise, bonus, or paid-off bill. Even small boosts can shorten your debt-free date by months.
Related reading: APR vs APY, APR, and Budget Calculator.