Debt Snowball vs. Avalanche Repayment Simulator
Find out which debt payoff method helps you become debt-free faster.
Compare the Snowball and Avalanche methods side by side to discover which strategy saves you more money and time. Whether you're paying off credit cards, student loans, or personal loans, this free tool helps you visualize your debt-free journey with clear charts and summaries.
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What Is the Debt Snowball Method?
The Debt Snowball method focuses on paying off your smallest debts first, regardless of interest rates. Created by Dave Ramsey, this approach prioritizes psychological wins over mathematical optimization.
How It Works:
- List all debts from smallest balance to largest
- Make minimum payments on all debts
- Put extra money toward the smallest debt
- Once paid off, roll that payment into the next smallest debt
- Continue until all debts are paid
Pros:
- Quick psychological wins build momentum
- Simpler to follow and understand
- Reduces number of debts quickly
- Higher success rate for many people
Cons:
- May pay more interest overall
- Longer payoff time for some situations
- Not mathematically optimal
- High-interest debts linger longer