Debt Snowball Calculator

Enter up to 3 debts and optional extra payment to see payoff timeline.

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Snowball Method (simplified monthly): 1) Pay minimums on all debts 2) Apply extra to the smallest balance 3) When a debt pays off, roll its payment into the next smallest 4) Repeat until all debts are cleared
Example: Debt1 $1,000 @ 18% min $50; Debt2 $3,000 @ 22% min $75; Extra $100 Simulation pays smallest balance first and rolls payments. Output shows months to debt-free and total interest.

How does the debt snowball work?

Pay minimums on all debts, direct extra money to the smallest balance first. After payoff, roll its payment into the next smallest.

Snowball vs avalanche?

Snowball prioritizes smallest balance (motivational wins). Avalanche prioritizes highest APR (interest optimized). Snowball is used here.

Should I include fees or late charges?

We use balances, APR, and minimums. You can adjust balances upward to account for fees if needed.

What if a debt is already paid?

Enter zero or leave it blank. Only entered balances with minimums are simulated.

Is interest compounding monthly?

Yes. APR is converted to a monthly rate during the month-by-month simulation.