# Pay off debt: snowball or avalanche

> List your debts and what you can pay each month. See when you are debt-free with each method.

Compare the snowball and avalanche methods for paying off several debts, with the debt-free date, total interest and a balance chart. Runs in your browser.

- Tool: [Debt payoff calculator](https://fixmint.cc/debt-payoff-calculator)
- Category: [Numbers & dates](https://fixmint.cc/numbers)
- Fixes: Which debt do I pay first?
- Runs in the browser: files and text stay on the device, no sign-up, free.

## How to compare debt payoff methods

1. Add each debt with its balance, APR and minimum payment.
2. Enter the total you can pay each month.
3. Compare snowball and avalanche, then follow the order of the method you pick.

## Questions

### What is the difference between snowball and avalanche?

Both pay every minimum, then send the extra money to one debt at a time. Avalanche targets the highest interest rate first, which usually costs the least interest. Snowball targets the smallest balance first, which clears a debt sooner and can keep people motivated.

### What happens when a debt is paid off?

Its minimum payment is no longer needed, so that money rolls into the next debt. That is why the total you pay each month stays the same even as debts drop away.

### Why does a balance sometimes not fall?

Interest is added each month at APR ÷ 12. If a payment is less than or equal to that month’s interest, the balance does not go down. Raise the payment on that debt, or move extra money to it.

### Are these results exact?

They are a monthly model: interest is added once a month at APR ÷ 12, and payments are made at the end of the month. Lenders may compound daily and set their own dates, so real figures can differ a little.

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