Finance category
Mortgage, loan, investing, tax, and money calculators.
Debt Snowball Calculator
Run the snowball method end to end. Enter each balance, APR, and minimum payment — then see the payoff order, month-by-month schedule, and total interest when extra dollars focus on the smallest balance first.
Snowball method: smallest balance first
Focus every extra dollar on the debt with the smallest balance until it's gone, then roll that payment into the next-smallest. Builds momentum through quick wins.
Your debts
Add balance, APR, and minimum payment for each. Order does not matter — the strategy sorts them.
Months to debt free
43
Total interest paid
$5,658
Total amount paid
$23,858
Initial balance
$18,200
Payoff order
Credit Card B → Credit Card A → Personal Loan
vs Avalanche method
The other strategy saves $572 more interest — consider switching.
Monthly repayment schedule
Combined payment, interest, and remaining balance each month.
| Month | Payment | Principal | Interest | Remaining | Focus debt |
|---|---|---|---|---|---|
| 1 | $660.00 | $391.01 | $268.99 | $17,808.99 | Credit Card B |
| 2 | $660.00 | $396.62 | $263.38 | $17,412.37 | Credit Card B |
| 3 | $660.00 | $402.31 | $257.69 | $17,010.06 | Credit Card B |
| 4 | $660.00 | $408.08 | $251.92 | $16,601.98 | Credit Card B |
| 5 | $660.00 | $413.95 | $246.05 | $16,188.03 | Credit Card B |
| 6 | $660.00 | $419.90 | $240.10 | $15,768.13 | Credit Card B |
| 7 | $660.00 | $425.95 | $234.05 | $15,342.17 | Credit Card B |
| 8 | $660.00 | $432.09 | $227.91 | $14,910.08 | Credit Card B |
| 9 | $660.00 | $438.33 | $221.67 | $14,471.76 | Credit Card B |
| 10 | $660.00 | $444.66 | $215.34 | $14,027.10 | Credit Card B |
| 11 | $660.00 | $451.08 | $208.92 | $13,576.02 | Credit Card B |
| 12 | $660.00 | $457.61 | $202.39 | $13,118.41 | Credit Card B |
| 13 | $660.00 | $464.24 | $195.76 | $12,654.17 | Credit Card B |
| 14 | $660.00 | $470.97 | $189.03 | $12,183.20 | Credit Card B |
| 15 | $660.00 | $477.80 | $182.20 | $11,705.40 | Credit Card A |
| 16 | $565.00 | $390.14 | $174.86 | $11,315.26 | Credit Card A |
| 17 | $565.00 | $396.55 | $168.45 | $10,918.71 | Credit Card A |
| 18 | $565.00 | $403.07 | $161.93 | $10,515.63 | Credit Card A |
| 19 | $565.00 | $409.72 | $155.28 | $10,105.92 | Credit Card A |
| 20 | $565.00 | $416.48 | $148.52 | $9,689.44 | Credit Card A |
| 21 | $565.00 | $423.37 | $141.63 | $9,266.07 | Credit Card A |
| 22 | $565.00 | $430.38 | $134.62 | $8,835.69 | Credit Card A |
| 23 | $565.00 | $437.52 | $127.48 | $8,398.16 | Credit Card A |
| 24 | $565.00 | $444.80 | $120.20 | $7,953.37 | Credit Card A |
| 25 | $565.00 | $452.20 | $112.80 | $7,501.16 | Credit Card A |
| 26 | $565.00 | $459.74 | $105.26 | $7,041.42 | Credit Card A |
| 27 | $565.00 | $467.42 | $97.58 | $6,574.00 | Credit Card A |
| 28 | $565.00 | $475.24 | $89.76 | $6,098.76 | Credit Card A |
| 29 | $565.00 | $483.21 | $81.79 | $5,615.55 | Credit Card A |
| 30 | $565.00 | $491.32 | $73.68 | $5,124.23 | Credit Card A |
| 31 | $565.00 | $499.58 | $65.42 | $4,624.65 | Credit Card A |
| 32 | $565.00 | $507.99 | $57.01 | $4,116.66 | Credit Card A |
| 33 | $565.00 | $516.56 | $48.44 | $3,600.10 | Credit Card A |
| 34 | $565.00 | $525.29 | $39.71 | $3,074.81 | Credit Card A |
| 35 | $400.88 | $370.06 | $30.82 | $2,704.75 | Personal Loan |
| 36 | $370.00 | $343.18 | $26.82 | $2,361.57 | Personal Loan |
| 37 | $370.00 | $346.58 | $23.42 | $2,014.99 | Personal Loan |
| 38 | $370.00 | $350.02 | $19.98 | $1,664.97 | Personal Loan |
| 39 | $370.00 | $353.49 | $16.51 | $1,311.48 | Personal Loan |
| 40 | $370.00 | $356.99 | $13.01 | $954.49 | Personal Loan |
| 41 | $370.00 | $360.53 | $9.47 | $593.95 | Personal Loan |
| 42 | $370.00 | $364.11 | $5.89 | $229.84 | Personal Loan |
| 43 | $232.12 | $229.84 | $2.28 | $0.00 | All debts paid |
How to Use
- Add each debt with its balance, APR, and minimum payment.
- Enter any extra monthly amount you can apply to the smallest balance beyond the required minimums.
- Review the payoff order — the snowball method always starts with the smallest balance regardless of interest rate.
- Compare the snowball total interest and payoff date with the avalanche comparison summary.
- Export the month-by-month schedule to track the focus debt each month until you're debt free.
Frequently Asked Questions
Why use the snowball method if it costs more interest?
Most people who try to escape debt give up before finishing. The snowball method produces quick, visible wins, which keeps people motivated long enough to finish. If psychology is the limiting factor, snowball often beats avalanche in practice.
How much extra should I pay each month?
Any amount helps. Even an extra $50 per month applied to the smallest balance usually shortens the payoff by months. Start with what you can sustain; raise it as balances vanish.
Should I include my mortgage in the snowball?
Usually no. Mortgages have long amortization and low rates, so they don't benefit much from a snowball approach. Focus the snowball on credit cards, personal loans, auto loans, and similar unsecured or short-term debt.
What if my minimum payments can't cover the interest?
If minimums are below the monthly interest charges on a balance, that debt is in negative amortization — it grows faster than you pay it down. You'll need more cash flow, a balance transfer, a lower-rate personal loan, or a hardship program from the creditor.
Related Calculators
Debt Avalanche Calculator
Target highest-APR debts first to minimize total interest.
Debt Payoff Calculator
Compare single-debt payoff timelines and Avalanche vs Snowball side by side.
Debt Consolidation Calculator
Roll high-APR debts into one lower-rate loan before snowballing.
Credit Card Interest Calculator
See how much interest your cards are costing each month.
Balance Transfer Calculator
Transfer high-APR balances to 0% intro cards before starting the snowball.
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