Debt Snowball & Avalanche Tracker

About this tool

This browser calculator models a payoff schedule for the debts you enter. Snowball orders debts by smallest balance; avalanche orders them by highest APR. Your monthly budget is every minimum payment plus your extra payment, and it stays the same each month. Each month every debt is charged one month of interest and gets its minimum, and whatever is left of the budget goes to the current target debt. When a debt is paid off, its minimum rolls into the extra pool for the next target: the classic snowball roll. The result shows total months (and years), months saved and interest saved compared with paying minimums only, total interest paid, the month each debt is cleared, and a line chart of each balance. If a minimum does not cover a debt's interest, the tool flags it instead of looping forever. It is a simplified monthly estimate: actual statements can differ because of compounding rules, billing dates, fees and payment timing. Use it for rough planning and compare the output with your statements or a qualified financial counselor.

Why use it

• Lets you switch between snowball and avalanche ordering with one dropdown.

• Shows how many months your extra payment shaves off versus minimums only.

• Balance chart visualises each debt being paid down over time.

• Handles as many debts as you add — credit cards, personal loans, student loans, auto.

• No sign-up required — works entirely in your browser.

• Replaces spreadsheet macros for a quick first-pass payoff timeline.

How to use

1. Review or edit the pre-loaded example debts in the table (name, balance, APR, minimum payment).
2. Click '+ Add debt' to enter additional credit cards, loans, or other balances, and ✕ to remove one.
3. Set the extra monthly payment amount you can commit to each month.
4. Choose Snowball (smallest balance first) or Avalanche (highest APR first).
5. Click 'Calculate Payoff' to see total months, months and interest saved versus minimum-only payments, total interest, each debt's payoff month and the balance chart.
6. Switch the method and compare the total months and interest for each strategy.

When it helps

• Creating a structured debt elimination plan for the first time.
• Deciding whether to prioritise psychological wins (snowball) or interest savings (avalanche).
• Calculating the value of putting a bonus or tax refund toward debt.
• Presenting a payoff plan to a financial counsellor.
• Tracking progress month by month against a target payoff date.
• Building a structured debt-elimination plan when consumer debt feels overwhelming.

Examples

Tips

• Start with the avalanche method if your goal is minimum total interest paid — mathematically it always wins.
• Use the snowball method if you need motivation and quick wins to stay consistent — psychological momentum matters more than mathematical optimization for many people.
• Pay any windfalls (tax refund, bonus, gift) entirely toward the target debt to accelerate the timeline.
• The snowball roll is built in: a paid-off debt's minimum automatically goes to the next target, so keep paying the same total each month.
• Negotiate with creditors for lower APRs before starting — even a 2% reduction on a high-balance card adds significant savings.
• Keep one card with a small recurring charge active (paid in full monthly) to maintain credit history while paying down the others.
• Consider a balance-transfer card if you can pay off the balance during the 0% intro period — but factor in the 3-5% transfer fee.

Frequently Asked Questions

Glossary

Debt snowball

A debt-payoff strategy where you target the smallest balance first while making minimums on others. Provides quick wins and psychological momentum.

Debt avalanche

A debt-payoff strategy where you target the highest-APR debt first while making minimums on others. Mathematically optimal for minimum total interest.

Snowball roll

When a debt is paid off, its minimum payment is added to the next target debt's payment, accelerating the remaining timeline.

Minimum payment

The smallest amount required by the lender each month. Usually 1-3% of the credit-card balance or a fixed amortizing payment for installment loans.

APR (Annual Percentage Rate)

The yearly interest rate on a debt. The avalanche method targets the highest APR first.

Extra payment

Any amount paid above minimums each month. Applied entirely to the strategy's target debt.

Compound interest

Interest charged on previous interest. Why high-APR debt compounds against you and why early payoff matters.

Debt consolidation

Combining multiple debts into one new loan, typically at a lower rate. Different from snowball/avalanche but often complementary.