Pay it off,
in the right order.
List your debts and what you can add each month. See your debt-free date and the interest you’ll pay two ways: highest rate first, or smallest balance first.
Avalanche vs snowball · Freed-up payments roll over · Month by month
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Debt-free with the avalanche
Jun 2029
Avalanche interest
$3,402
Snowball interest
$4,215
The avalanche saves $813 and 1 month over the snowball.
What you owe
Balance, yearly rate (APR) and the minimum payment from each statement. The ones to start with are examples.
4 debts · $21,300 in all
What you can add each month
Fine-tune 1 more input
One more step
- Debt-free
- —
- Months sooner
- —
- Interest saved
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Avalanche vs snowball
The avalanche saves
$813
and 1 month. The snowball clears its first debt sooner: month 7 instead of month 22.
| Measure | AvalancheHighest rate first | SnowballSmallest balance first |
|---|---|---|
| Debt-free | Jun 2029 | Jul 2029 |
| Months | 31 | 32 |
| Total interest | $3,402 | $4,215 |
| Total paid | $24,702 | $25,515 |
| First debt gone | Month 22 | Month 7 |
Illustration only. Interest is charged monthly at the APR ÷ 12, rates and minimums stay fixed, there are no new charges or fees, and payments start next month. Real lenders compute interest daily and lower minimums as balances fall, so your statements will differ. The simulation stops at 50 years.
Month by month
Two orders, one rule.
The rule
- Pay every minimum. Every month, on every debt.
- Send the extra to one debt. Everything above the minimums goes to the debt at the top of the list.
- Roll it over. When that debt is gone, its whole payment moves to the next one.
Avalanche
- Highest rate first. The most expensive money goes first, so it costs the least interest in total.
- Slower first win. A big high-rate balance can take a while to clear.
Snowball
- Smallest balance first. Quick wins: fewer bills to track, sooner.
- Costs more. Usually some extra interest. The tool shows you exactly how much, so you can choose.