Debt payoff: avalanche vs snowball
List what you owe, choose how much extra you can throw at it each month, and see both strategies side by side. Minimums keep getting paid; each finished debt rolls its payment into the next one.
Your debts up to 8
| Name | Balance ($) | APR (%) | Minimum ($/mo) |
|---|
Avalanche highest rate first
—
debt-free date
$0total interest
0months
Snowball smallest balance first
—
debt-free date
$0total interest
0months
Verdict
—
Paying only minimums: —.
Interest compounds monthly on the remaining balance. Minimums below the monthly interest are raised to interest plus 1% of balance so the loan can actually close. Fees, promotional 0% windows and balance transfers are not modeled; a 0% promo can be entered as 0% APR with its real minimum.