Guides › Debt snowball vs avalanche: compare both in one spreadsheet · Updated 30 Oct 2026

Debt snowball vs avalanche: compare both in one spreadsheet

The snowball method pays the smallest balance first. The avalanche method pays the highest interest rate first. The avalanche usually costs less interest; the snowball gives quicker wins. Your own numbers show how big the difference is.

List your debts

Columns: Debt, Balance, APR, Minimum payment. Add one cell for the total you can pay each month.

A quick estimate per debt

Months to pay off one debt at a fixed payment:

=NPER(APR/12, -payment, balance)

Useful for a single loan, but it doesn't show the roll-over effect where a paid-off minimum moves to the next debt.

The month-by-month table

For a fair comparison, make a table with one row per month and a column per debt. Each month: add interest (balance*APR/12), subtract the minimum, and give the extra money to the target debt. Sort the debts by balance for snowball, by APR for avalanche. When a debt hits zero, its minimum joins the extra.

Read the result

Compare two numbers: the month in which all balances reach zero, and the sum of all interest. If the avalanche saves only a little, the snowball's motivation may be worth it. If it saves a lot, the maths wins.

This is a planning tool, not financial advice. Check the actual terms of your loans and cards.

Rather start with a ready-made file?

The Paycheck Budget & Debt Payoff Planner has a snowball vs avalanche calculator with your debt-free date and interest saved. Your data stays in your own file.