Debt Snowball vs. Avalanche Calculator
Compare the two most popular debt payoff strategies. The Debt Snowball focuses on psychological wins by paying off small balances first, while the Debt Avalanche prioritizes high-interest rates to save you money over time.
Comparison Results
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Snowball Time
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Avalanche Time
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Snowball Interest
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Avalanche Interest
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How to Choose Between Debt Snowball and Debt Avalanche
Paying off debt is as much a psychological challenge as it is a financial one. When faced with multiple balances, most people wonder which path leads to freedom faster. This calculator compares the two primary methods: Snowball and Avalanche.
The Debt Snowball Method
The Snowball method focuses on momentum. You pay off your smallest balance first, regardless of interest rates. Once the smallest debt is gone, you roll that payment into the next smallest. This creates a "win" early in the process, which keeps you motivated.
The Debt Avalanche Method
The Avalanche method focuses on mathematics. You prioritize the debt with the highest interest rate. By attacking the most expensive debt first, you reduce the total amount of interest paid over the life of your loans, potentially saving thousands of dollars.
Which Strategy is Right for You?
If you need quick wins to stay motivated, choose the Snowball. If you want to pay the least amount of money possible to the banks, choose the Avalanche. Our calculator shows you exactly how many months and how much interest you save with each path.
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