Your debts
Avalanche
Spare money goes to the highest APR. You pay the least interest overall.
Snowball
Spare money goes to the smallest balance. You clear a debt sooner, which helps you keep going.
Or turn the list into a single line
If the rates on your list are high, one loan at a lower rate can replace all of them with a single fixed payment and a set end date.
- Personal loans from $200 to $5,000, repaid over 3 to 24 months.
- It only pays off if the loan rate is lower than what you pay now. Check before you switch.
Common questions
What is the difference between snowball and avalanche?
Avalanche puts spare money toward the highest-rate debt first, which costs the least interest. Snowball targets the smallest balance first, which clears individual debts sooner.
Which method should I choose?
Avalanche is cheaper on paper. Snowball can be easier to stick with, because you see a balance disappear early. The best plan is the one you keep following.
What should my monthly budget be?
At least the total of all your minimum payments. Anything above that is the spare money the calculator directs at one debt at a time.
One payment instead of a list?
Check your rate in about three minutes, with no impact on your credit score.