Debt payoff planner: snowball or avalanche
Put in your two largest debts, the balance and the interest rate on each, and see which one to clear first. You get an order in rupees, and the reasoning behind it.
How this debt payoff planner works
Step 01
Put in the balance and the interest rate on your first debt, both figures sit on your last statement
Step 02
Do the same for the second debt, the other one competing for the same money each month
Step 03
Press Suggest a Method and get Avalanche or Snowball, decided on the spread between your two rates
Step 04
See which of the two to start with, while you keep paying the minimum on the other one
Curious? Here's what women ask before they start.
If your question isn’t here, reach out at [support email] and we’ll answer.
What is the difference between the snowball and avalanche methods?
The snowball method clears the smallest balance first, so you get a win early and keep your momentum. The avalanche method clears the highest interest rate first, which costs you less overall.
Which method saves the most money?
The avalanche method, because you stop the most expensive interest first. The gap between the two is small when the interest rates are close, and large when one debt is far more expensive than the other.
Can I use it for more than two debts?
The calculator compares two at a time, which is usually enough to decide your order. For more, use the printable debt worksheet and apply the same logic down the list.
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