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Debt snowball versus avalanche
Compare paying the smallest balance first with paying the highest rate first.
Illustrative result
£158.95 interest difference
- Snowball interest
- £492.80
- Avalanche interest
- £333.85
- Snowball months
- 22
- Avalanche months
- 17
Assumptions
- Avalanche puts the extra payment towards the higher rate. Snowball puts it towards the smaller balance. The example's higher rate is also the larger balance, so the interest difference is the point of the comparison.
Questions
Which should I use?
Avalanche usually costs less interest. Snowball clears a balance sooner, which some people find easier to stick to. This is not advice to restructure a debt.
Use this in your own plan
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Estimates only. Tax and repayment rules can change, and this is not financial, tax or pension advice.
Interest difference£158.95See breakdown