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Debt Snowball Calculator

Plan your debt payoff using the snowball method. Pay off smallest debts first for quick wins.

Debt Snowball Calculator

Plan your debt payoff using the snowball method (smallest balance first)

Debt 1

Debt 2

Formula

Pay minimums on all debts, extra goes to smallest balance

How to Use This Calculator

  1. 1

    Enter your debts

    Input each debt's balance, interest rate, and minimum payment.

  2. 2

    Add extra payment

    Enter any extra amount you can put toward debt each month.

  3. 3

    View payoff order

    See which debts to pay off first using the snowball method.

  4. 4

    Track progress

    See your total interest and time to become debt-free.

Frequently Asked Questions

What is the debt snowball method?

The debt snowball method focuses on paying off your smallest debt first while making minimum payments on others. Once paid off, you roll that payment into the next smallest debt.

Snowball vs Avalanche - which is better?

Avalanche (highest interest first) saves more money mathematically. Snowball (smallest balance first) provides psychological wins that help many people stay motivated.

How much extra should I pay?

Any extra helps! Even $50-100 extra per month can significantly reduce your payoff time and total interest paid.