A debt snowball vs avalanche calculator is a helpful tool for comparing two popular debt repayment methods: the debt snowball method and the debt avalanche method. It can help you decide which method is right for you and can provide a personalized repayment plan.
The debt snowball method involves paying off your smallest debts first, regardless of interest rate. This can help you build momentum and stay motivated as you see your debts disappear. The debt avalanche method, on the other hand, involves paying off your debts with the highest interest rates first. This can save you money on interest in the long run, but it may take longer to see progress on your smaller debts.