What this calculator does
Debt snowball vs avalanche works out compares paying off smallest balances first against paying off highest rates first. Enter your own figures above and the answer updates as you type: nothing is fixed in the code, so the result reflects exactly the numbers you supply.
The formula this calculator evaluates is printed under the tool and explained below, so you can check the working by hand or reuse it in a spreadsheet.
The formula
The inputs explained
| Field | What to enter |
|---|---|
| Debt balances (comma separated) | A list of numbers, separated by commas or spaces. |
| Interest rates, same order (comma separated %) | A list of numbers, separated by commas or spaces. |
| Minimum payments, same order (comma separated $) | A list of numbers, separated by commas or spaces. |
| Extra you can put toward debt each month ($) | A number, measured in your currency. Starts at 300. |
Worked examples
Every figure in the tables below is produced by this page’s own calculator at build time, so the numbers and the tool always agree. Select any row to load that scenario.
How the answer changes with extra you can put toward debt each month
Every other input is held at the calculator’s starting values while extra you can put toward debt each month varies. Select any row to load that scenario into the calculator.
| Extra you can put toward debt each month ($) | Avalanche pays off in | Snowball pays off in | Interest paid: avalanche |
|---|---|---|---|
| 150 | 55 months | 58 months | $6,167.96 |
| 225 | 48 months | 50 months | $5,070.08 |
| 300 | 42 months | 43 months | $4,331.49 |
| 450 | 33 months | 34 months | $3,362.33 |
| 600 | 28 months, same as snowball | 28 months | $2,760.47 |
| 900 | 20 months | 21 months | $2,033.80 |