Debt Payoff Planner — Snowball vs Avalanche
Enter all your debts and see which payoff method clears them faster and cheaper. Compares the avalanche method (highest rate first) against the snowball (smallest balance first), with the payoff order for each.
Last verified: 5 May 2026Snowball or avalanche — which clears my debt faster?
Avalanche (highest interest rate first) always costs the least interest. Snowball (smallest balance first) clears whole debts sooner for motivation, usually for a little more interest. The winning move in both: pay minimums everywhere, throw all spare cash at one debt, then roll it onward. Source: ASIC MoneySmart.
General information and estimates only — not financial, tax, or legal advice. Always verify with a licensed adviser or the ATO.
Related reading
Australian credit card debt statistics for 2026, including average balances, interest rates, the minimum payment trap, and proven strategies to pay off your cards faster.
How to Pay Off Credit Card Debt Fast in Australia (7 Proven Methods)Average Aussie card debt is $3,200 at 20% interest = $640/yr wasted. 7 strategies from balance transfers to avalanche method to get debt-free.
Debt Consolidation in Australia: Pros, Cons & Is It Worth It?Roll $20K across 3 cards at 20% into one 8% loan and save $2,400/yr in interest. When consolidation works and when it makes things worse.
How to Get Out of Debt in Australia: Step-by-Step Guide for 2026A practical, no-judgment guide to getting out of debt in Australia. Covers the snowball and avalanche methods, negotiating with creditors, debt agreements, free help from the National Debt Helpline, and when bankruptcy might be the right option.