Debt Snowball Calculator

Build a payoff schedule that targets the smallest balance while maintaining minimum payments on every debt.

Method and required inputs

Enter each balance, rate, minimum payment, and available extra payment. Compare the motivational benefit of quick wins with the interest savings available from targeting the highest rate first.

The snowball method orders debts from smallest balance to largest while maintaining every required minimum. Extra cash goes to the smallest balance; after it is eliminated, its full payment rolls into the next debt, creating progressively larger payments.

Read the complete result

Enter each balance, APR, minimum payment, and the same monthly extra-payment budget. Compare the projected payoff date and interest with an avalanche order that targets the highest APR first. The snowball may cost more interest but can create earlier account-level wins.

Run a stress case

Test what happens if the extra payment falls for several months or new card purchases continue. A payoff schedule assumes the budget actually reaches the debt each month. Promotional rates and deferred-interest deadlines should be modeled explicitly rather than buried in an average APR.

Limits and verification

Minimum-payment formulas can change as balances decline, and issuers calculate interest using actual daily balances. The schedule is an estimate. Protect housing, utilities, insurance, taxes, and other critical obligations before accelerating unsecured debt.

This calculator is educational, not a quote, approval, guarantee, tax opinion, or individualized recommendation. Confirm material figures, current rules, and actual product terms before acting.

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