Debt Payoff Planner: Snowball or Avalanche

About this calculator

When you have several debts, the order in which you repay them matters. The avalanche method pays the highest rate first and saves the most interest; the snowball method pays the smallest balance first and gives quick wins that keep you motivated.

List your debts, one per line, with name, balance, rate and minimum payment, then set your total monthly budget. The calculator simulates the plan month by month and shows when you will be debt-free, the total interest and the order in which debts are cleared.

When to use it

• Organising several cards and loans into one plan.
• Choosing between the avalanche and snowball methods.
• Seeing how an extra amount each month shortens the plan.
• Tracking progress against a target date.

How to read the result

Each month, every debt receives its minimum payment and the rest of the budget goes to the target debt. When a debt is cleared, its payment rolls over to the next one.

If the budget does not cover all minimum payments, no plan can work: the calculator warns you.

Mistakes to avoid

• Taking new debt during the plan.
• Setting a budget below the sum of minimum payments.
• Switching method every month.