Three cards, snowball method
Input
Card A $500 @ 24%, Card B $2000 @ 18%, Card C $5000 @ 22%, $200 extra/mo
Expected result
Snowball: paid off in ~21 months, $1,360 total interest
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Debt Snowball & Avalanche Tracker
Plan debt payoff using the snowball (smallest balance first) or avalanche (highest APR first) method. Add multiple debts, set extra payments, and see a payoff chart.
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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. It applies each debt's minimum payment and then directs the extra monthly payment to the current target, rolling the available pool as balances reach zero. The result shows an estimated payoff duration, months saved versus the same debts with no extra payment, and a balance chart. It is a simplified monthly model: actual statements can differ because of compounding rules, billing dates, fees, payment timing, and lender policies. Use it for planning and compare the output with your statements or a qualified financial counselor.
Why use it
Compares snowball and avalanche side-by-side so you can pick the right strategy.
Shows exactly how many months your extra payment shaves off.
Declining balance chart visualises all debts being eliminated over time.
Handles unlimited debts — credit cards, personal loans, student loans, auto.
No sign-up required — works entirely in your browser.
Replaces complex spreadsheet macros that simulate the snowball roll manually.
How to use
- Review or edit the pre-loaded example debts in the table.
- Click '+ Add debt' to enter additional credit cards, loans, or other balances.
- Set the extra monthly payment amount you can commit to each month.
- Choose Snowball (smallest balance first) or Avalanche (highest APR first).
- Click 'Calculate Payoff' to see the payoff timeline and chart.
- Toggle between methods to compare months and total interest.
- Sort debts by balance to apply snowball, or by APR to apply avalanche — the tool does this automatically when you select a method.
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
Big balance gap
Input
Loan A $25k @ 8%, Card B $1k @ 26%, $300 extra/mo
Expected result
Avalanche: clears card B fast, then attacks loan A — saves ~$3,200 vs snowball
Minimum-only baseline
Input
Card A $500, B $2k, C $5k, $0 extra/mo
Expected result
Min-only: ~12+ years, $4,800+ total interest
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.
- Once a debt is paid off, redirect that minimum payment to the next target — this is the 'snowball roll' that drives the strategy.
- 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
Which method saves more money, snowball or avalanche?
The avalanche method always saves more in total interest because it targets the most expensive debt first. The difference can be hundreds to thousands of dollars on large, high-APR balances.
Why might someone choose snowball over avalanche?
Research shows that eliminating a debt completely boosts motivation and follow-through. If smaller debts have slightly lower APR, the psychological benefit of the snowball often outweighs the small extra interest cost.
How does the snowball roll work?
Once a debt is paid off, its minimum payment is added to the next debt's payment. This 'snowball' grows with each payoff, dramatically accelerating the timeline for remaining debts.
What if my minimum payment doesn't cover the interest?
If a debt's interest exceeds its minimum payment, the balance grows every month. You must pay more than the interest charge to make progress — this tool requires minimum payments that exceed the monthly interest.
Should I include my mortgage in the tracker?
Most financial advisors recommend excluding low-rate mortgages and focusing the tracker on high-interest consumer debt. Once consumer debt is cleared, redirect payments to mortgage or investment.
How accurate is the payoff simulation?
The simulation models simple interest compounding monthly, which matches how credit cards and most consumer loans work. Results may differ slightly from your actual statement due to billing cycle timing.
What happens to freed minimum payments in this model?
When a debt reaches zero, the simulator currently applies the extra pool to the next target debt. The original minimum from the paid-off debt is effectively rolled into the extra payment, matching the classic snowball/avalanche approach.
How does this compare to popular debt apps like Undebt.it or YNAB?
The math is identical to dedicated debt apps. This tool emphasizes side-by-side comparison of snowball vs avalanche and is fully browser-based with no account or subscription. Apps add features like auto-syncing transactions and progress notifications.
Explore the category
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.