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Debt Snowball Calculator
Pay off your debts from smallest to largest balance and build momentum toward becoming completely debt-free.
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Months to Debt-Free
Total Interest Paid
Total Amount Paid
Calculated in your browser. We never see your numbers.
How to Use This Calculator
Enter each of your debts in the table — including the current balance, annual interest rate (APR), and minimum monthly payment. You can enter up to 5 debts; leave unused rows blank. Enter any extra amount you can add each month in the "Extra Monthly Payment" field. Click "Calculate Snowball" to see how many months until you're debt-free, how much total interest you'll pay, and the exact order in which your debts will be paid off.
How the Debt Snowball Works
The calculator simulates your debt payoff month by month. First, it sorts your debts from smallest balance to largest. Each month, interest is applied to each remaining balance at that debt's monthly rate (APR ÷ 12). Then, the minimum payment is applied to every active debt. Any extra payment you've specified is directed entirely to the smallest remaining balance. When that debt reaches zero, its minimum payment is automatically rolled into the next smallest debt, creating the "snowball" effect. This continues until all debts are eliminated.
Example Calculation
Suppose you have two debts: a $1,000 credit card at 18% APR with a $50 minimum, and a $2,000 personal loan at 24% APR with a $60 minimum. With no extra payment, you pay the credit card first. Once it's cleared, the freed-up $50 minimum joins the $60 minimum, putting $110/month toward the personal loan. This rolling effect reduces your total payoff time and saves meaningful money in interest compared to paying each debt independently.
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Frequently Asked Questions
What is the debt snowball method?
The debt snowball method is a debt payoff strategy where you pay minimum payments on all debts, then put any extra money toward the debt with the smallest balance first. When that debt is paid off, you roll its minimum payment into the next smallest debt, creating a 'snowball' effect. This builds psychological momentum by giving you quick wins early in the process.
Snowball vs avalanche — which is faster?
Mathematically, the debt avalanche method (targeting highest interest rate first) is faster and costs less in total interest. However, the snowball method often leads to better real-world results because the quick wins of paying off small debts provide motivation to stick with the plan. Studies show many people abandon avalanche plans but succeed with snowball. The best method is the one you'll actually follow.
Should I include my mortgage in the snowball?
Most financial experts recommend excluding your mortgage from the debt snowball. Mortgage debt is typically low-interest, tax-deductible, and secured by an asset that appreciates over time. Focus the snowball on high-interest consumer debts like credit cards, medical bills, car loans, and personal loans first. Once those are paid off, you can redirect extra payments toward your mortgage if desired.
How much extra should I pay?
Even a small extra payment makes a significant difference. Start with whatever you can free up — cutting subscriptions, dining out less, or selling items you no longer need. Many people find $50–$200/month extra to apply to their snowball. The key is consistency. Use this calculator to see the impact: even $25 extra per month can cut years off your debt payoff timeline.
What if I can't afford any extra payments?
That's okay — the snowball still works with minimum payments only. When you pay off your smallest debt, that minimum payment amount automatically frees up cash to apply to the next debt. You don't need extra money to start; the method works by recycling payments you're already making. As you eliminate debts, your cash flow improves naturally, and you can start adding true extra payments.
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