Snowball vs. avalanche
Compare two popular strategies for paying off debt and find out which might fit your situation best.
How each method works
The snowball method puts extra payments toward the smallest balance first. The avalanche method prioritizes the highest interest rate. Both keep minimum payments on your other debts.
Compare the tradeoff
With the same fixed budget and assumptions, prioritizing higher rates generally reduces interest. Paying off a small debt sooner may make progress easier to notice. Your motivation matters alongside the numbers.
Try both with your balances
Use the planner to compare estimated interest and payoff dates. It carries freed monthly payments forward to your remaining debts. The model assumes fixed rates and no new borrowing.