Debt Payoff Calculator 2026 — Snowball vs Avalanche

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Debt Payoff Calculator — See Your Debt-Free Date

The debt snowball (smallest balance first) gives psychological wins. The debt avalanche (highest interest first) saves the most money. This calculator pre-loads a common scenario: $15,000 across 3 debts.

Calculator

Pre-filled with typical values for this scenario. Adjust any field to see updated results.

→ Use the standard Loan Calculator

Default Scenario — What These Numbers Assume

Parameter	Default Value	Notes
debts	[object Object],[object Object],[object Object]
method	avalanche
Extra Monthly Payment	200	Additional principal payment

Frequently Asked Questions

What is the debt avalanche method?

Pay minimum on all debts, put extra money toward the highest-interest debt first. This minimizes total interest paid, often saving thousands vs the snowball method.

What is the debt snowball method?

Pay minimum on all debts, put extra toward the smallest balance first. Dave Ramsey popularized this. You eliminate debts faster and get psychological wins, but pay more interest overall.

How much faster does $200 per month extra pay off debt?

On $15,000 in debt at 15% average interest, an extra $200 per month typically cuts repayment time by 2-3 years and saves $3,000-$5,000 in interest.

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ℹ️ Free Tool This calculator is provided for educational purposes. Consult a financial advisor before making major financial decisions.

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