Debt Snowball Calculator
The debt snowball pays minimums on every debt and focuses all extra money on the smallest balance. Each debt you clear frees its payment for the next one — the snowball grows. Enter up to three debts to see your plan.
Your numbers
Result
- Total interest paid
- $2,223.92
- Total paid
- $9,723.92
| Order | Debt | Paid off in month |
|---|---|---|
| 1 | Debt 2 — $2,500 start | 17 |
| 2 | Debt 1 — $5,000 start | 30 |
How the snowball method works
List your debts from smallest balance to largest, ignoring the interest rates. Pay the minimum on all of them, and send every spare dollar to the smallest. When it's gone, its whole payment (minimum + extra) rolls into the next debt — your monthly budget never changes, but the amount hitting each debt keeps growing. That accelerating rollover is the "snowball".
Snowball vs. avalanche
The avalanche (highest APR first) is mathematically optimal — it minimizes total interest. The snowball (smallest balance first) usually costs a bit more in interest but produces the first win sooner, and research on real borrowers suggests quick wins help people actually stick with the plan. If the numbers here look close, pick the order you'll follow through on.
Making the snowball bigger
The plan is only as strong as the extra payment. Common boosts: pause new borrowing (the snowball can't outrun new debt), sell something and apply the proceeds to the smallest balance, and redirect any windfall — tax refund, bonus — into the current target. Even $50 more per month visibly moves the debt-free date; try it in the calculator.
Informational and educational result. Not a substitute for professional advice.
Frequently asked questions
Sources
- Debt repayment strategies — snowball and avalanche methods
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