Debt Snowball Calculator
Create a debt snowball payoff plan, track payoff order, and estimate payoff date and interest impact with extra monthly payments.
| Debt Name | Balance | APR (%) | Min Payment | Action |
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Payoff Order
Debt Snowball Calculator With Payoff Timeline
The debt snowball method pays minimums on every debt and focuses extra payments on the smallest balance first. As each balance is eliminated, its minimum payment rolls into the next debt, creating momentum.
How the Snowball Method Works
List debts from smallest to largest balance, pay minimums on all, then apply extra payment to the smallest debt. Once paid off, roll that freed payment into the next debt. This approach prioritizes quick wins and behavior consistency.
Snowball vs Avalanche
Snowball prioritizes motivation by balance size, while avalanche prioritizes interest savings by APR. Snowball can be easier to stick with, though avalanche often minimizes total interest mathematically.
Using Extra Payments Strategically
Even modest extra monthly payments can significantly shorten payoff timelines. Any bonus or temporary cash flow improvement can be directed to the current snowball target to accelerate debt elimination.
Frequently Asked Questions
Is snowball better than avalanche?
Snowball may be better for consistency and habit formation; avalanche usually saves more interest. The best strategy is the one you can sustain.
Do I still pay minimums on all debts?
Yes. Minimums are paid on all active debts, with extra money going to the current snowball target.
Can I edit debts later?
Yes. Add, remove, or update balances, rates, and minimum payments anytime, then recalculate.
Is my financial data uploaded?
No. Calculations run entirely in your browser and are never sent to a server.