Debt Payoff Comparison
The avalanche method (highest-rate debt first) minimizes total interest paid. The snowball method (smallest balance first) creates early wins that keep you motivated. Both work. This calculator runs a monthly simulation on your actual debts so you can see the exact difference in time and money before choosing.
Your debts: enter up to 3 (leave unused rows as zero)
Balance
APR %
Min Pmt
Any amount above your required minimums. Even $50/month makes a difference.
Highest rate first
Debt-free in
3 yr 4 mo
Total interest paid
$4,952
Every extra dollar goes to the debt with the highest APR. This eliminates the most expensive money first and is mathematically the cheapest path out of debt.
Smallest balance first
Debt-free in
3 yr 4 mo
Total interest paid
$5,075
Pay off the smallest balance first. The psychological win of eliminating an account keeps many people motivated, especially when progress on large balances is slow to see.
Avalanche saves $123 in interest.
Both methods work. The best one is the one you stick with. If eliminating accounts one by one keeps you motivated, snowball is worth the small extra cost.
What you can actually change
Extra payment amount — This is the most powerful variable. Even $50/month above your minimums meaningfully shortens your payoff timeline and reduces interest.
Interest rates — If your credit score is 700+, you may qualify for a balance transfer card (0% for 12–18 months) or a personal loan at a lower rate. Reduce the rate, and more of each payment actually reduces the balance.
Your next step
Use the avalanche method — it's mathematically the fastest and cheapest path out.
Set your extra $200/month as an automatic payment to your highest-rate debt. Once that's paid off, roll everything you were paying into the next debt — the "debt snowball" effect accelerates your payoff automatically.
Assumes fixed APRs, consistent payments, and no new charges. In practice, minimum payments often decrease as balances fall. This simulation keeps minimums fixed, which is a reasonable approach for planning purposes.
Ready to take action?
Build a debt payoff plan
Avalanche or snowball: find the order that gets you out fastest.