Enter your debts and compare snowball (lowest balance first) vs avalanche (highest interest first) payoff strategies. See exact months saved and interest avoided.
The debt snowball method pays off your smallest balance first while making minimums on all others. When the smallest debt is cleared, you roll that payment into the next smallest. This builds psychological momentum and motivation.
The debt avalanche method targets the highest interest rate debt first, saving the most money on interest charges. Mathematically it is the optimal strategy but requires more patience if the highest-rate debt has a large balance.
Avalanche saves more money on interest. Snowball delivers quicker wins that boost motivation. Studies show snowball users are more likely to stick with their plan and become debt-free. The best method is the one you will actually follow.
On a typical debt portfolio of $20,000 across 3-4 accounts, avalanche saves $500-$3,000 in interest compared to snowball, depending on rate differences and how long payoff takes.
Yes. Pay minimums on all debts, then direct extra payments to your smallest balance (snowball) for the first 1-2 payoffs to build momentum, then switch to targeting highest rates (avalanche). This hybrid approach works well.
Even $100 extra per month can dramatically cut your payoff timeline. This calculator shows the exact impact of any extra payment amount across both methods.
Debt consolidation combines multiple debts into one lower-rate loan. Snowball and avalanche are payment strategies for existing debts. You can use snowball or avalanche after consolidating.