Finance
Debt Snowball Calculator
Run the debt snowball plan across all your debts. Months to debt-free, total interest, per-debt payoff month, and snowball vs avalanche comparison.
Your debts
Name
Balance ($)
APR (%)
Min ($)
One pool that snowballs into the target debt every month.
Strategy
Snowball payoff
2 yr 2 mo
26 months total
Total interest
$1,382
Total paid
$14,182
Strategy comparison
Snowball
Avalanche
Months
26
26
Total interest
$1,382
$1,382
Payoff order (Snowball)
- 1. Store cardpaid off month 4 | interest $41
- 2. Credit cardpaid off month 13 | interest $397
- 3. Auto loanpaid off month 26 | interest $944
Frequently Asked Questions about the Debt Snowball Calculator
How does the debt snowball method work?
You pay every debt its minimum each month, then throw a fixed extra amount at the debt with the smallest balance. When that debt clears, its minimum payment rolls into the snowball and attacks the next-smallest balance. Each retired debt makes the snowball bigger, which is why momentum builds toward the end of the plan.
Why pick smallest balance first instead of highest rate?
Behavior, not math. Clearing a debt in two or three months gives you a visible win, which keeps you on the plan. Avalanche (highest APR first) saves more interest on paper, but only if you actually finish. If you have abandoned a payoff plan before, snowball usually wins in real life. If you have not, avalanche keeps the savings.
What happens if my minimum payment is smaller than the monthly interest?
The balance grows every month, which means the debt never pays off on minimums alone. This calculator flags any debt where the minimum payment is at or below the monthly interest charge. You either need to negotiate a lower rate, raise the minimum on that debt, or aim your extra payment at it first to break the cycle.
Do I include my mortgage in the snowball?
Most snowball plans exclude the mortgage and any debt longer than ten years, since they are large enough to skew the math and small enough in monthly cost to handle separately. Add credit cards, store cards, auto loans, student loans, medical bills, and personal loans. Tackle the mortgage with a separate payoff plan once the rest is gone.
How much extra payment do I actually need each month?
There is no single right number. Any extra above zero shortens the plan and cuts total interest, and the effect compounds because each freed minimum gets recycled. A useful starting point is 1% of your total balance, then raise it as you cut other expenses. Try a few values in the calculator and compare the months-to-debt-free and total-interest figures.