Debt Payoff Calculator
Compare the snowball and avalanche methods side by side. Enter your debts below to see which strategy saves you the most money and how quickly you can be debt free.
Your Debts
Extra Monthly Payment
Any amount above your combined minimums that you can put toward debt each month. This extra payment is applied to the target debt based on the chosen strategy.
How the Two Strategies Work
Avalanche Method
List your debts by interest rate, highest to lowest. Make minimum payments on all debts, then put every extra dollar toward the one with the highest rate. Once that debt is gone, roll its payment into the next highest rate.
This approach minimizes total interest paid over the life of your debts. It is the mathematically optimal strategy. The Consumer Financial Protection Bureau recommends reducing high-interest debt as a priority for long-term financial stability.
Snowball Method
List your debts by balance, smallest to largest. Make minimum payments on all debts, then put every extra dollar toward the smallest balance. Once that debt is gone, roll its payment into the next smallest.
This approach gives you quick wins early on, which can help maintain motivation. You may pay slightly more in interest, but the psychological benefit is real.
Both methods use the same total monthly payment. The only difference is the order in which debts receive the extra payment. Read our Debt Payoff Guide for a deeper comparison.
Track Your Debt Payoff Plan in MCF
Middle Class Finance tracks your debts, calculates payoff dates, and shows your progress over time. Both avalanche and snowball strategies are built in.
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