Which method pays off debt faster?

The avalanche method typically pays off debt faster and saves more total interest because you tackle the highest-rate debt first. The difference depends on your specific debts.

Which method is better for motivation?

The snowball method is psychologically motivating — eliminating smaller debts quickly gives a sense of progress. Research suggests motivation and consistency matter more than which method you choose.

How much extra should I pay each month?

Any extra payment helps. Even £50–100/month can significantly reduce total interest and time to payoff. Use any windfalls (bonus, tax refund) as lump-sum overpayments for the biggest impact.

Debt Snowball vs Avalanche Calculator

Compare two popular debt repayment strategies. The snowball method pays the smallest balance first for quick wins. The avalanche method targets the highest interest rate first to minimise total interest paid.

How it's calculated

Snowball: pay minimum on all, then extra to smallest balance
Avalanche: pay minimum on all, then extra to highest rate

Frequently Asked Questions

Which method pays off debt faster?: The avalanche method typically pays off debt faster and saves more total interest because you tackle the highest-rate debt first. The difference depends on your specific debts.
Which method is better for motivation?: The snowball method is psychologically motivating — eliminating smaller debts quickly gives a sense of progress. Research suggests motivation and consistency matter more than which method you choose.
How much extra should I pay each month?: Any extra payment helps. Even £50–100/month can significantly reduce total interest and time to payoff. Use any windfalls (bonus, tax refund) as lump-sum overpayments for the biggest impact.