About the Debt Snowball Calculator
The debt snowball method pays the minimum on every debt, then puts all extra money toward the smallest balance. When it's gone, that payment rolls to the next-smallest — building momentum with quick wins. Enter up to four debts to see your debt-free date and payoff order.
How it’s calculated
Debts are ordered by balance (smallest first). Each month all minimums are paid, then the remaining budget (minimums freed by cleared debts plus your extra) is applied to the current target debt until every balance reaches zero.
Example calculation
With a $6,000 debt at 22% and a $9,000 debt at 15%, paying minimums plus $200 extra clears both in about 3 years 4 months — starting with the $6,000 balance.
Frequently asked questions
Snowball or avalanche — which is better?
Avalanche (highest rate first) saves the most interest mathematically. Snowball (smallest balance first) gives faster wins that help many people stay motivated. Both beat paying only minimums.
How many debts can I enter?
Up to four here — enough for most households. Add the third and fourth under Advanced options.
This calculator provides estimates for educational purposes and should not be considered financial, tax, or legal advice. Your actual figures may vary with lender terms, fees, and market conditions.