THE NO JOB LIFESTYLEHow This Calculator Works
Each month every debt grows by its APR ÷ 12 and gets its minimum payment. Your extra money goes to one target debt: the smallest balance for snowball, the highest APR for avalanche. When a debt is paid off, its minimum rolls into the next target. Rates are treated as fixed, with no new charges. The example debts are made up. Type your own.
Snowball Or Avalanche?
Avalanche is the cheaper plan on paper. Snowball wins small victories sooner, which helps some people stick with it. Either one beats paying only the minimums. The average credit card APR at big issuers is in our credit card APR by issuer table.
Next Steps
High card balances also hurt your score through utilization. Try our credit utilization calculator, read what credit utilization is, or browse all credit guides. Got a collection account? See debt validation letters and CFPB debt collection help.
Questions People Ask
What is the difference between debt snowball and debt avalanche?
Snowball pays the smallest balance first for quick wins. Avalanche pays the highest interest rate first, which usually costs less interest overall.
Which saves more money, snowball or avalanche?
Avalanche usually saves more interest because the most expensive debt goes first. Snowball can help you stay motivated. This calculator shows both with your numbers.
Where do I find my APR and minimum payment?
Both are on your monthly statement or in your card or loan app.
Does this calculator store my debts?
No. Everything runs in your browser and nothing you type is sent anywhere.