Debt Snowball vs. Avalanche Calculator
FinanceCompare two debts to determine which to prioritize using the snowball and avalanche payoff methods.
Avalanche Method Priority (Highest Rate First)
Which debt to pay off first under the avalanche method, prioritizing the highest interest rate to minimize total interest paid.
Snowball Method Priority (Smallest Balance First)
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Which debt to pay off first under the snowball method, prioritizing the smallest balance for a quick psychological win.
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Odeh Ahwal0people find this calculator helpful
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Odeh Ahwal0people find this calculator helpful
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Saved
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Frequently Asked Questions
What is the difference between the avalanche and snowball methods?
The avalanche method prioritizes paying off the highest interest rate debt first to minimize total interest paid, while the snowball method prioritizes the smallest balance first to build quick momentum and motivation through early wins.
Which method saves more money?
The avalanche method is mathematically guaranteed to save more in total interest over time, since it tackles the most expensive debt first, though the difference may be modest if interest rates between debts are similar.
Why might someone choose snowball over the mathematically optimal avalanche method?
Many people find the psychological momentum of quickly eliminating smaller debts helps them stay motivated and consistent with their debt payoff plan, which can matter more for long-term success than the smaller interest savings from avalanche.
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