Free tool
Debt payoff calculator
Enter your debts, drag the extra-payment slider, see your payoff date and total interest. Avalanche and snowball side-by-side.
Your debts
Avalanche (highest APR first)
Apr 2029
31 months from today
Total interest paid: $2,162
Snowball (smallest balance first)
Apr 2029
31 months from today
Total interest paid: $2,162
Want this saved to your account with live updates as you pay things down?
Open free in VekfinanceAvalanche saves the most money. Snowball keeps the most people on the plan. If you've fallen off debt plans before, snowball is worth the extra interest.
Avalanche vs snowball
Avalanche (highest APR first)
Mathematically optimal. Saves the most in total interest. Best when your debts span a wide APR range (a 24% card alongside a 5% student loan). Hardest to feel progress.
Snowball (smallest balance first)
Behaviorally easier. You close out a card sooner, get a real win, and stay on the plan. Costs a few hundred to a few thousand more in interest, but a finished plan beats an abandoned one.
Example: $21K across 3 debts
Credit card $12K at 26% APR (min $250), store card $3K at 16% (min $75), student loan $6K at 5% (min $70), all minimums plus $200/month extra.
- Avalanche payoff
- 50 months
- Snowball payoff
- 57 months
- Avalanche interest
- $8,247
- Snowball costs vs avalanche
- + $4,208 interest
→ Snowball clears the small store card first and leaves the 26% card for last, so it costs about $4,200 more and finishes 7 months later. When your smallest balance isn't your highest rate, avalanche wins big.
How the math works
- 1
Accrue monthly interest
Add one month of interest to each debt at APR/12 of the balance.
- 2
Apply minimum payments
Every active debt gets its minimum payment first.
- 3
Route the extra
Highest APR (avalanche) or smallest balance (snowball) gets your extra payment on top of its minimum.
- 4
Cascade
When the priority debt is paid off mid-month, leftover extra rolls to the next debt. Freed-up minimum payment joins it next month.
Tip
One calculator vs the cockpit
A standalone calculator is great for planning. Real debt payoff benefits from automation: knowing the math isn't the same as tracking the math as balances actually fall and life happens. The Vekfinance dashboard imports your real balances via bank sync, re-runs both strategies live as transactions hit, and shows you exactly how much extra to pay this month to stay on your goal. Free.
Frequently asked questions
What's the difference between avalanche and snowball?
Avalanche pays the highest-APR debt first. Mathematically optimal: minimizes total interest. Snowball pays the smallest balance first. Psychologically easier: you get the win of fully closing an account sooner, which keeps people motivated.
Which method is better?
Avalanche saves more money. Snowball keeps more people on track. If you've fallen off debt plans before, snowball is worth the extra interest cost because finishing matters more than optimizing.
How accurate is this calculator?
Very. It accrues monthly interest at APR/12, applies minimum payments, then routes the extra to the priority debt, and cascades to the next once the priority is paid off. Same math as the cockpit inside Vekfinance.
What's an APR?
Annual Percentage Rate, the yearly interest rate on the debt. Credit cards usually 18-29%, student loans 4-8%, car loans 4-9%, mortgages 6-8%. Find yours on your statement or in your card's mobile app.
Why is the calculator showing 50 years for my debt?
Your minimum payment is too close to your monthly interest. If APR is high and minimum payment is low, most of your payment goes to interest and the balance barely shrinks. Try raising the extra-payment slider to see how much faster it pays off.
Does this save my data?
No. Everything runs in your browser. Refresh the page and it's gone. Sign up free for Vekfinance to save your debts permanently and see live updates as you pay them down.
Want a deeper dive into the methodology? Read Avalanche vs Snowball: which wins?
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