List your debts and see two payoff plans side by side: avalanche, which saves the most interest, and snowball, which clears your first debt fastest. You’ll get a debt-free date and a month-by-month schedule.
Your debts
| Debt | Balance | Interest rate (APR %) | Minimum payment | Remove |
|---|
Avalanche Saves the most
Highest interest rate first
Snowball Saves the most
Smallest balance first
Show the month-by-month schedule
How to use the debt payoff planner
- List each debt with its current balance, interest rate (APR) and minimum monthly payment. You’ll find all three on your latest statement.
- Enter the extra amount you can put toward debt each month, on top of the minimums.
- Compare the two plans. The planner shows when you’d be debt-free, how much interest you’d pay and the order your debts get cleared.
- Open the schedule to see every month’s payment, interest and remaining balance on each debt.
Your list is saved in your browser, so it’s there when you come back to update the balances. Nothing is sent to our server.
Avalanche vs snowball
Both methods pay the minimum on every debt and put all the extra money on one target debt. When that debt is gone, its minimum payment rolls onto the next target, so the amount going to debt each month never drops.
| Avalanche | Snowball | |
|---|---|---|
| Pays first | Highest interest rate | Smallest balance |
| Total interest | Lowest possible | Usually a bit higher |
| First debt cleared | Can take longer | As soon as possible |
| Best for | Saving the most money | Staying motivated |
With the example debts above and 200 a month extra, avalanche saves about 272 in interest and finishes a month sooner. That’s a small gap. The bigger number is the comparison with paying only the minimums: the same 200 a month cuts almost four years and over 4,000 in interest.
Our take: use avalanche if the interest gap is large, which happens when one debt has a much higher rate and a big balance. If the planner shows a gap of a few hundred or less, snowball is a perfectly good choice. Paying off a card in the first few months is a real boost, and a plan you keep following beats a slightly cheaper one you give up on.
When the minimum doesn’t cover the interest
If a debt’s minimum payment is lower than the interest it adds each month, the balance grows even while you pay. The planner flags this in orange. On a 4,800 credit card at 22.9%, interest is about 92 a month, so a 50 minimum loses ground every month. The fix is to pay more on that debt, move it to a lower rate, or ask the lender for a payment plan.
Tips that make the plan work
Keep the extra payment the same every month, even after a debt is paid off. The planner assumes you do, which is where the rollover savings come from.
Update the balances every few months. Rates change, and it’s motivating to watch the debt-free date move closer.
Stop adding to the debts you’re paying down. New card spending undoes the plan faster than any method choice.
Check for a lower rate before you start. A balance transfer or consolidation loan at a lower APR can save more than either method, but read the transfer fees first.
Frequently asked questions
Which is better, debt snowball or debt avalanche?
Avalanche always costs the same or less in interest. Snowball pays off your first debt sooner. Enter your debts above and compare the two numbers; if the difference is small, pick the one you’ll stick with.
Should I include my mortgage?
Most people leave it out. Mortgages usually have low rates and long terms, and including one pushes the debt-free date decades away. Focus on cards, personal loans and car loans first.
What APR should I use for a 0% promotional card?
Enter 0 for now, but note when the promotion ends. Once the normal rate kicks in, update the rate so the plan reflects it.
Is my information stored anywhere?
Only in your own browser. Click Clear all to remove it.