Debt Payoff Comparison

Compare Snowball vs Avalanche methods to find your fastest path to debt freedom

Your Debts

Quick Examples:

Total debt balance: $0.00
Total minimum payments: $0.00
Expenses to Cut (Optional)

Track expenses you can eliminate to put toward debt. Americans waste ~$200/year on unused subscriptions alone.

Common Cuts:

Total monthly savings: $0.00
Your minimum payments total: $0.00 per month
$
Enter additional monthly payment beyond minimums

Snowball Method

Payoff Order

Avalanche Method

Payoff Order

Month Target Debt Payment Principal Interest Total Balance

Learn About Debt Payoff

Explore our educational guides to understand different payoff strategies and learn how to evaluate loan offers.

Payoff Methods

Snowball vs Avalanche: Compare strategies, understand the psychology of debt payoff, and find the approach that works for you.

Loan Reference Guide

Learn about different loan types, spot predatory lending warning signs, and use our interactive tools to evaluate loan offers.

Use these Excel formulas to recreate debt payoff calculations in your own spreadsheets.

Monthly Payment (PMT)

Calculate required monthly payment for a loan

=PMT(B2/12, B3, -B1)
B1 = Loan Balance B2 = Annual Rate (decimal) B3 = Months Remaining

Months to Payoff (NPER)

Calculate how many months to pay off a debt

=NPER(B2/12, -B3, B1)
B1 = Current Balance B2 = Annual Rate (decimal) B3 = Monthly Payment

Total Interest (CUMIPMT)

Calculate total interest over the life of the loan

=CUMIPMT(B2/12, B3, B1, 1, B3, 0)
B1 = Loan Balance B2 = Annual Rate (decimal) B3 = Total Months

Interest for Specific Month (IPMT)

Calculate interest portion of a specific payment

=IPMT(B2/12, B4, B3, -B1)
B1 = Loan Balance B2 = Annual Rate (decimal) B3 = Total Months B4 = Payment Number

Principal for Specific Month (PPMT)

Calculate principal portion of a specific payment

=PPMT(B2/12, B4, B3, -B1)
B1 = Loan Balance B2 = Annual Rate (decimal) B3 = Total Months B4 = Payment Number

Remaining Balance (FV)

Calculate remaining balance after N payments

=FV(B2/12, B4, -B3, B1)
B1 = Original Balance B2 = Annual Rate (decimal) B3 = Monthly Payment B4 = Payments Made