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How the plan works
- Pay the minimum on every debt each month.
- Send every extra dollar to the target debt — smallest balance (snowball) or highest APR (avalanche).
- When a debt is gone, add its minimum to the next target. Repeat until you're debt-free.
Assumptions
- Same total payment every month. When a debt is paid off, its minimum rolls into the next target.
- Minimum payments are held fixed; interest is APR ÷ 12 on each month's balance; no new charges.
Frequently asked questions
What's the difference between debt snowball and debt avalanche?+
Both pay every minimum and put extra money toward one debt at a time. Snowball targets the smallest balance first for quick wins; avalanche targets the highest interest rate first, which always costs the same or less in interest.
Which method should I use?+
Avalanche saves the most money. Snowball can be worth the extra interest if early wins keep you motivated — the calculator shows exactly how much each choice costs so you can decide.
What happens when a debt is paid off?+
Its minimum payment rolls into the next target debt, so your payoff accelerates even if you never add extra money. That rollover is what makes both methods work.
Should I include my mortgage?+
Usually not. These methods are for consumer debts like credit cards, personal loans, car loans and student loans. Mortgages have low rates and long terms and are better handled separately.
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Last reviewed October 15, 2026. Calculator version 1.0.0. Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.