WireNorth Tools
Debt Payoff Strategy Builder
Compare snowball and avalanche payoff schedules with the same monthly payment. Enter balances, APRs, minimums, and the extra amount you can put toward debt.
Last reviewed: May 12, 2026
Educational calculator
This is not debt settlement, debt management, credit repair, refinancing, or legal advice. It is a schedule comparison built from your inputs.
1. Enter statement numbers
Use current balance, APR, and minimum payment from each account statement.
2. Set one monthly extra
The model adds that extra to your minimums, then rolls freed payments into the next target.
3. Compare outcomes
Review payoff time, total interest, first win, and the payoff order for both strategies.
Strategy comparison
Snowball vs. avalanche, side by side.
This planner compares two payoff orders using the same monthly payment. It does not negotiate debt, sell debt relief, or recommend a loan.
Total balance
$21,300
Across tracked debts
Monthly plan
$822
Minimums plus extra
Lower interest
Avalanche
$33 difference
Faster payoff
Tie
Based on this schedule
Snowball strategy
2 yr 5 mo
Targets the smallest balance first for quicker visible wins.
Interest
$2,533
Total paid
$23,833
First payoff
Store card
Vs other
$33 more
Milestones
Month 4: Store card paid off
Snowball clears this balance in month 4.
Month 15: Rewards credit card paid off
Snowball clears this balance in month 15.
Month 26: Student loan paid off
Snowball clears this balance in month 26.
Month 29: Auto loan paid off
Snowball clears this balance in month 29.
Avalanche strategy
2 yr 5 mo
Targets the highest APR first to reduce modeled interest.
Interest
$2,500
Total paid
$23,800
First payoff
Store card
Vs other
$33 less
Milestones
Month 4: Store card paid off
Avalanche clears this balance in month 4.
Month 15: Rewards credit card paid off
Avalanche clears this balance in month 15.
Month 24: Auto loan paid off
Avalanche clears this balance in month 24.
Month 29: Student loan paid off
Avalanche clears this balance in month 29.
Time comparison
Months to payoff
Snowball29 mo
Avalanche29 mo
Interest comparison
Total interest paid
Snowball$2,533
Avalanche$2,500
1. Add debts
Enter balances, APRs, and minimum payments
Use the numbers from your statements. If a debt has no interest, enter `0` APR.
2. Review debts
Your payoff inputs
Educational schedule only
This tool does not provide debt settlement, debt management, credit repair, refinancing, or legal advice. It compares two payment-order formulas using your inputs.
Methodology
How the schedule is calculated
Each month, the calculator applies one month of interest based on APR divided by 12, then pays minimums, then sends remaining monthly payment to the current target debt.
The snowball target is the smallest remaining balance. The avalanche target is the highest APR. When a debt is paid off, its minimum payment stays in the total monthly payment and is rolled into the next target.
This simplified model does not include late fees, promotional APR expirations, daily interest, payment posting delays, new purchases, taxes, or creditor hardship programs.
Frequently asked questions
What is the debt snowball method?
In this calculator, snowball means extra payment goes to the smallest remaining balance first while minimum payments continue on other debts.
What is the debt avalanche method?
In this calculator, avalanche means extra payment goes to the highest APR debt first while minimum payments continue on other debts.
Does this tool recommend one method?
No. It compares two formulas using your inputs. The mathematically lower-interest result may not be the same as the approach a person finds easiest to stick with.
Does this calculator offer debt relief?
No. It does not settle debts, negotiate with creditors, repair credit, refinance loans, or connect you with debt services.
Why does my real statement differ from this schedule?
Real balances can change because of fees, daily interest, promotional APRs, late payments, payment posting dates, and new purchases. Use statements to verify details.
Why track debt details
CFPB's Your Money, Your Goals toolkit includes tools for making decisions about repaying debts and taking on new debt.
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Avoid debt relief scams
FTC warns that debt relief and credit repair scams often make unrealistic promises and may charge people before providing help.
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Google policy boundary
Google treats debt services as a sensitive financial category. This page is an educational calculator and does not offer debt services.
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