Debt Avalanche vs Snowball Calculator – Compare Your Payoff Plan
Use our free Debt Avalanche vs Snowball Calculator to see which debt payoff method works best for you. The Snowball Method focuses on paying off small debts first for motivation, while the Avalanche Method targets high-interest debt to save money. Enter your debts below and compare both strategies side by side.
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What is the Debt Avalanche Method?
The Debt Avalanche Method prioritizes paying off debts with the highest interest rates first. This strategy minimizes the total interest you pay and helps you save money long-term, though it may take longer to feel progress compared to the snowball method.
What is the Debt Snowball Method?
The Debt Snowball Method focuses on eliminating your smallest debts first, regardless of interest rates. This creates quick psychological wins that motivate you to stay consistent until all debts are cleared.
How Our Calculator Works
- Enter all your debts, including balances, interest rates, and minimum payments.
- We calculate both the Snowball and Avalanche repayment schedules.
- See which strategy pays off your debt faster and which saves you more money.
Benefits of Avalanche vs Snowball
- Avalanche: Save the most money by minimizing interest.
- Snowball: Build motivation with small wins and steady progress.
- Both methods give you a structured path to financial freedom.
FAQs
Which is better: Debt Avalanche or Debt Snowball?
The avalanche method saves more money on interest, while the snowball method is often easier to stick with because of faster emotional wins. The best method depends on your personality and financial goals.
How much faster can I pay off debt using the avalanche strategy?
The avalanche method is usually faster if you have high-interest debt, but the difference depends on your balances, rates, and consistency.
Can I combine both methods?
Yes. Many people start with snowball for quick motivation, then switch to avalanche once they’re confident about sticking with the plan.