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Debt payoff and financial freedom

Debt Payoff Calculator

Compare the Avalanche vs Snowball method to find the fastest way to become debt-free. See which strategy saves you the most money.

Compare StrategiesCreate Budget
Avalanche
Highest Rate First
Snowball
Smallest Balance First
$$$
Interest Savings
Freedom
Debt Free Date

Your Debts

$
%
$
$
%
$
$
%
$
$
%
$
$

Total monthly payment: $1,290

Total Debt

$48,000

Number of Debts

4

Average APR

13.13%

Min. Payments

$790

Avalanche Method

The mathematically optimal approach. You'll pay less interest overall.

  • ✓Saves the most money
  • ✓Best for disciplined savers
  • ✗May take longer to see first payoff

Snowball Method

The psychological win approach. Quick victories keep you motivated.

  • ✓Quick wins boost motivation
  • ✓Reduces number of payments faster
  • ✗May pay more interest overall