Snowball vs avalanche

Estimate a payoff order before you commit to it.

Snowball focuses on smallest balances first. Avalanche focuses on highest rates first. This tool shows the order, estimated payoff time, and estimated interest so the tradeoff is easier to see.

Debt payoff calculator

Compare snowball and avalanche payoff paths

Enter balances, APRs, minimums, and any extra monthly amount. The estimate rolls paid-off minimums into the next target and keeps your total payment steady.

Payoff method
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3 of 10 debts

How to read the payoff date

The month count is an estimate of when the entered balances reach zero if the payment stays steady and no new charges are added. If your real minimum payments change, rerun the numbers.

What estimated interest means

Interest is the simplified amount added during the projected payoff period. It is useful for comparing strategies, but it is not a lender payoff quote.

What the first target means

The first target is the debt that receives extra money after all minimums are covered. If a bill is past due or legally urgent, handle that reality before following a simple ordering rule.

Choosing between snowball and avalanche

Snowball

Snowball can make progress feel visible sooner because small balances disappear first. That may matter if motivation is the difference between sticking with the plan and abandoning it.

Avalanche

Avalanche usually reduces interest fastest because the highest APR gets attacked first. It may feel slower if the highest-rate debt has a large balance.

Neither method fixes an unaffordable budget by itself. If minimums already crowd out essentials, focus first on hardship programs, nonprofit credit counseling, legal aid, or other qualified help.

Not sure which path fits?

Penny can walk through motivation, interest cost, hardship options, consolidation cautions, and legal-pressure red flags in plain English.

Continue with Penny

Assumptions

  • Interest is estimated with simple monthly compounding from the APR you enter.
  • Minimum payments are treated as fixed dollar amounts, not lender-calculated changing minimums.
  • When one debt is paid off, its minimum payment rolls into the next target along with any extra monthly payment.
  • The estimate does not include late fees, balance-transfer fees, promotional-rate expirations, new purchases, settlement tax effects, or credit-score changes.
  • If the entered payments do not cover monthly interest, the calculator flags the plan instead of projecting a payoff date.

Consolidation and settlement cautions

A balance transfer, personal loan, or debt management plan can lower friction when the payment is affordable and the fees make sense. It can also backfire if the rate jumps, the transfer fee is high, or old cards get used again.

Debt settlement and bankruptcy questions can carry tax, legal, and credit consequences. For lawsuits, garnishment, foreclosure, repossession, or bankruptcy decisions, talk with qualified legal help.

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