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Debt calculator

Debt Payoff Calculator

List your debts, add one extra monthly payment, and compare the snowball and avalanche methods side by side. See your debt-free date, total interest and how much the avalanche saves. Free, no signup.

Snowball vs avalancheAny currencySee your payoff date
Your debts
$
%
$
$
%
$
$
%
$
Your extra payment
What you can pay on top of every minimum, thrown at one debt at a time
$
You pay $590 a month in total: $340 across the minimums plus $250 extra. The extra lands on one debt at a time until it clears, then rolls onto the next.
Two ways to clear it
Same debts, same $250/month extra. Snowball chases quick wins, avalanche chases the lowest interest.
SnowballQuick wins
Debt-free in
31
Around February 2029
Total interest$3,063
Total paid$18,063
First clearsCar loan, month 7
Extra goes to, in order
Car loan → Credit card → Personal loan
AvalancheLeast interest
Debt-free in
30
Around January 2029
Total interest$2,613
Total paid$17,613
First clearsCredit card, month 17
Extra goes to, in order
Credit card → Personal loan → Car loan
Avalanche saves $450 in interest versus snowball, and clears you 1 month sooner. Snowball’s trade is momentum: it clears Car loan first, around month 7, which can be easier to stick to.
5y10y
With your extra paymentMinimums only
What the extra buys you
Total balance
$15,000
Minimums only
13y 8m
Interest saved by extra
$11,345
Time saved by extra
11y 2m
Saving shown against paying only the minimums, using the avalanche plan. Interest compounds monthly at each APR ÷ 12.
Assumes fixed APRs, fixed minimums and no new borrowing. A guide, not financial advice.
Simon Chadwick
Simon Chadwick
Founder, Orbit Money
Method: month-by-month payoff simulationUpdated: 16 July 2026Sources: Investopedia, Experian

How to pay off debt with the snowball or avalanche method

Both methods share the same engine. You keep paying the minimum on every debt, then take whatever spare money you have and throw it all at one target debt until it clears. Once it is gone, the payment you were making on it rolls into the next target, so the amount you attack with grows month after month. That is the snowball effect, and both methods use it. The only choice is which debt you target first.

Debt snowball: the quick win

The snowball method targets your smallest balance first, whatever its interest rate. You clear a whole debt quickly, which feels good and builds momentum, then move to the next-smallest. It is the method Dave Ramsey made famous, and for many people the early win is what keeps them going long enough to finish. The trade-off is that ignoring interest rates can cost you a little more overall.

Debt avalanche: the least interest

The avalanche method targets your highest APR first. Because expensive debt is where interest piles up fastest, clearing it first saves the most money and usually reaches debt-free a little sooner. It is the mathematically cheapest route. The catch is patience: if your priciest debt also has a large balance, it can take a while to clear the first one, and some people lose motivation waiting.

Which should you choose?

Run your own numbers above and look at two things. First, how much interest the avalanche saves against the snowball. If the gap is small, the motivation of an early win may be worth more to you than the saving. Second, when the snowball clears its first debt. If that quick win is what keeps you paying, snowball can be the better choice even though it costs slightly more. The best plan is the one you finish.

Why the extra payment matters so much

Minimum payments are set low on purpose, and on a credit card most of each one is interest, so the balance barely moves. Every extra amount you add comes straight off the balance and removes interest for the whole remaining term. The calculator shows the difference between paying minimums only and paying minimums plus your extra, in both money and time. Clear the pricier debt first with the compound interest calculator waiting for the money you free up.

How to use this calculator

  1. Add each debt with its balance, APR and minimum monthly payment. Use Add another debt for more rows.
  2. Enter the extra amount you can pay each month on top of every minimum.
  3. Compare the snowball and avalanche cards: months to debt-free, payoff date and total interest.
  4. Read how much interest the avalanche saves, and which debt snowball clears first, then pick your method.

Frequently asked questions

Snowball or avalanche: which is better?
The avalanche method saves the most money. By targeting your highest-APR debt first it cuts the interest you pay and usually clears everything a little sooner. The snowball method targets your smallest balance first, so you clear a whole debt quickly and get an early win that is easier to stay motivated by. The maths favours avalanche; the psychology often favours snowball. The calculator above shows both on your own numbers, so you can see exactly how much the interest difference is and decide which trade you would rather make.
What is the difference between the debt snowball and debt avalanche?
Both methods pay the minimum on every debt, then throw all your spare money at one target debt until it clears, then roll that freed-up payment into the next. The only difference is the order. Snowball orders your debts by balance, smallest first. Avalanche orders them by interest rate, highest APR first. Same budget, same rolling snowball effect, different target.
Does Dave Ramsey recommend snowball or avalanche?
Ramsey popularised the debt snowball, paying the smallest balance first regardless of interest rate. The reasoning is behavioural: clearing a debt in full gives you a quick, visible win that keeps you going. Mathematically the avalanche method costs less in interest, but only if you stick with it. The best method is the one you finish, which is why the calculator shows both so you can weigh the interest saving against the motivation of an early win.
How do I pay off credit card debt fast?
Pay more than the minimum, and put every spare pound or dollar against one card at a time rather than spreading it thin. On a credit card, a minimum payment is mostly interest, so it barely touches the balance. Adding a fixed extra amount each month and keeping it going, on the highest-APR card first for the avalanche method, is the fastest way to clear card debt without new borrowing. Enter your cards above to see your payoff date.
Does paying more than the minimum make a difference?
A lot. Minimum payments are designed to keep you in debt for years, because most of each one goes on interest. Every extra amount you pay comes straight off the balance, so it cuts the interest charged for the whole remaining term. The calculator above shows the difference between minimums only and minimums plus your extra, in both interest and time.
What if my minimum payments do not cover the interest?
If a debt charges more interest each month than its minimum payment, the balance grows instead of shrinking and it will never clear on the minimum alone. The calculator flags this. When it happens you need to pay more than the minimum on that debt, move the balance to a lower rate, or speak to a free debt advice service such as StepChange or the National Foundation for Credit Counseling.

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Simon Chadwick
About the author
Simon Chadwick
Founder of Orbit Money

Simon is the founder of Orbit Money, a tool that helps people track subscriptions and recurring spend. He builds Orbit's free money calculators and writes about personal finance for readers in the UK, Australia and beyond.

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This tool is a guide, not financial advice.