Debt Snowball Calculator
Plan your debt payoff using the snowball method.
Enter up to 5 debts and see your payoff order, total interest, and debt-free date.
Debt Snowball Plan
The Debt Snowball Method pays off debts from smallest balance to largest, regardless of interest rate. As each debt is paid off, its payment rolls into the next debt.
How it works:
- List all debts from smallest to largest balance
- Make minimum payments on all debts
- Put every extra dollar toward the smallest debt
- When a debt is paid off, add its payment to the next smallest
- Repeat until debt-free
Why it works:
- Quick wins build motivation
- Each payoff frees up more money for the next debt
- The “snowball” grows larger with each debt eliminated
Snowball vs. Avalanche:
- Snowball: smallest balance first (better for motivation)
- Avalanche: highest interest rate first (saves more on interest)