How To Pay Off Debt Faster: Snowball vs Avalanche
The two main debt payoff methods, with real-numbers examples — and how to pick the one you'll actually finish.
The 'best' debt payoff method is the one you'll stick with for 24 months. Math matters less than momentum.
The Snowball Method
Pay minimums on everything. Throw all extra cash at your smallest balance. When it's gone, roll that payment into the next smallest. Quick wins fuel motivation.
The Avalanche Method
Pay minimums on everything. Throw all extra cash at the highest-interest debt. Mathematically optimal. Saves the most money and time.
Which one wins?
| Method | Pros | Cons |
|---|---|---|
| Snowball | Fast emotional wins; high completion rate | Costs a bit more in interest |
| Avalanche | Lowest total cost | Slow first wins; higher dropout rate |
Finding extra money to throw at it
- Refinance high-interest debt to a 0% balance transfer card
- Sell one big-ticket unused item (instrument, electronics, furniture)
- Direct your next raise or tax refund 100% to debt
- Add a $200/mo side hustle for 12 months
spread the savings
Enjoyed This Article? Share It!
Found this helpful? Share it with a friend or family member who's working on their budget too.
Quora opens a search for related questions, where you can reference this article in your own answer. On desktop, Messenger copies the link so you can paste it into a chat.
Your next step
Use the free Debt Snowball Calculator to run your own numbers, then keep the results somewhere you'll see them.
Open the free Debt Snowball Calculator →Related reading
Free PDF · 10 pages + cover
Baller Debt-Free Starter Kit
Snowball vs. avalanche explained, plus nine worksheets to list, plan, and track your payoff.
- Snowball vs. avalanche explainer
- Debt Inventory Worksheet
- Debt Payoff Goal
- Debt Snowball Worksheet
- Debt Avalanche Worksheet
- Monthly Debt Payment Tracker
- Extra Payment Tracker
- Debt-Free Milestone Tracker
- Debt Progress Chart
- Monthly Debt Check-In