Ember Economy
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Debt Payoff Calculator

Compare the debt avalanche and debt snowball methods side by side. Find out which strategy saves you the most money and gets you debt-free faster.

Your Debts

Add all your debts to compare payoff strategies.

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Additional amount beyond minimums

Total Debt

$45,000

Avalanche Payoff

8y 1m

Interest: $8,117

Snowball Payoff

8y 1m

Interest: $8,117

Avalanche Saves

$0

Same timeline

Debt Balance Over Time

Avalanche (highest rate first) vs Snowball (lowest balance first)

Avalanche Order

Highest interest rate first

  1. 1Credit Card
  2. 2Car Loan
  3. 3Student Loan

Snowball Order

Lowest balance first

  1. 1Credit Card
  2. 2Car Loan
  3. 3Student Loan

Avalanche vs Snowball: Which is Better?

The debt avalanche method pays off debts with the highest interest rate first, minimizing total interest paid. The debt snowball method pays off the smallest balance first, providing quick psychological wins. Mathematically, avalanche always saves more money.

Debt Avalanche Method

Pay minimums on all debts, then put extra money toward the highest interest rate debt. Once that is paid off, roll its payment into the next highest rate. This is the mathematically optimal strategy.

Debt Snowball Method

Pay minimums on all debts, then put extra money toward the smallest balance. The quick wins of eliminating debts fast can provide powerful motivation. The best method is the one you will stick with.