Free Tool
Debt payoff calculator
Enter your balances, then compare the two most popular payoff methods. The avalanche targets your highest interest rate first; the snowball targets your smallest balance first. See which gets you debt-free sooner and for less interest.
Your debts
Avalanche: extra payments target your highest interest rate first. Usually the least total interest.
Debt-free in
2 years, 5 months
- Total interest
- $3,132
- Total balance
- $10,700
The avalanche method would cost about $126 less in interest than snowball for these numbers (2 years, 5 months vs 2 years, 6 months).
A lower interest rate means more of every payment goes to principal. A fixed-rate consolidation loan may help, though your rate depends on your credit and is never guaranteed.
See consolidation optionsEstimates only. Assumes fixed monthly payments and fixed interest rates, and does not account for fees, rate changes, or new charges. Not financial advice.