Free Calculator
Add your debts, set your monthly budget, and see which strategy saves you the most money and time.
Add each debt — credit cards, student loans, car notes, medical bills, etc.
This is additional money beyond your minimum payments each month.
Highest interest first
Smallest balance first
When each debt gets eliminated
| Month | Payment | Principal | Interest | Remaining |
|---|
Complete payoff schedule with month-by-month breakdown
Avalanche (highest interest first) always saves you the most money mathematically. You attack the debt charging the most interest, reducing total cost.
Snowball (smallest balance first) gives you quick wins. Paying off a small debt fast creates momentum and motivation to keep going.
The "best" method is the one you'll stick with. If motivation is your bottleneck, snowball wins. If you're disciplined and want to optimize dollars, avalanche wins. Both are infinitely better than minimum payments only.
The difference between snowball and avalanche is usually small. The massive difference is between making minimum payments and adding any extra money each month.
Even $50/month extra can shave years off your payoff date and save thousands in interest. The strategy matters less than the commitment to pay more than the minimum.