Paying off several debts at once? Compare the two proven methods — snowball (smallest balance first, for quick wins) and avalanche (highest rate first, to save the most). Enter your debts and any extra you can pay monthly to see how long each takes, the total interest, and which costs you less.
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Both methods involve paying minimums on every debt and putting all spare money toward one target debt — they just differ on which debt comes first. The avalanche targets the highest interest rate first, which mathematically saves the most money. The snowball targets the smallest balance first, for quick wins and motivation.
This calculator compares the two so you can see the trade-off: avalanche usually costs less overall, while snowball can be easier to stick with. The best method is the one you'll actually follow through on.
Estimates only, and not financial advice. Figures assume a fixed interest rate — always check your loan or card agreement for the exact terms.
Avalanche pays off the highest-interest debt first to minimise total interest. Snowball pays off the smallest balance first to build momentum with early wins. Both pay minimums on everything else.
Avalanche saves the most money. Snowball can be more motivating because you clear individual debts faster. If the difference in cost is small, the method you'll stick to consistently is the better choice.
Usually a little more in total interest, because it doesn't prioritise your most expensive debt. For many people the gap is modest, and the motivation boost is worth it — but the calculator shows your exact difference.
If staying motivated is your challenge, snowball's quick wins help. If you want the cheapest route and can stay disciplined, avalanche wins. Compare both above and pick the one that fits how you work.