Debt Payoff Calculator
Compare snowball and avalanche methods to find the fastest way to become debt-free.
Your Debts
Extra Monthly Payment
How much extra can you put toward debt each month (beyond minimums)?
Payoff Strategy
Avalanche saves €624 in interest
Your Results
Debt-Free By
November 2030
4y 9m
Total Debt
€36,000
Interest
€5,954
Total Paid
€41,954
Payoff Order
Credit Card
Paid off in 2y 2m
+€2,057 interest
Personal Loan
Paid off in 2y 4m
+€344 interest
Student Loan
Paid off in 4y 9m
+€3,553 interest
Method Comparison
| Method | Time | Interest Paid | Total Paid |
|---|---|---|---|
AvalancheBest | 4y 9m | €5,954 | €41,954 |
Snowball | 4y 10m | €6,578 | €42,578 |
Avalanche saves you €624 compared to Snowball. However, Snowball provides quicker wins which can help with motivation.
Avalanche Method
Pay minimum on all debts, then put extra toward the highest interest rate debt. This method saves the most money on interest but requires patience as the first payoff may take longer.
Snowball Method
Pay minimum on all debts, then put extra toward the smallest balance. You'll pay off debts faster, building momentum and motivation. Costs slightly more in interest but has higher success rates.
Pro Tip
The best method is the one you'll stick to. If you need quick wins for motivation, choose Snowball. If you're disciplined and want to save money, choose Avalanche. Either way, the key is consistency.