Debt Snowball Calculator
Enter each debt with its balance, APR, and minimum payment. Set your extra monthly payment. The calculator shows your payoff order, debt-free date, total interest paid, and a month-by-month balance schedule — all in your browser, nothing stored.
Your Debts
| Debt Name | Balance ($) | APR (%) | Min. Payment ($) |
|---|
Payoff Settings
How the Math Works
Every month, for each debt, the calculator applies this formula:
interest = balance x (APR / 12 / 100) new_bal = balance + interest - payment_applied
payment_applied is at least the minimum payment for every debt. The focus debt (determined by your strategy) receives all leftover funds: extra payment + any freed minimums from debts already paid off.
- Snowball: focus = debt with the smallest current balance. Wins psychologically — quick wins keep you motivated.
- Avalanche: focus = debt with the highest APR. Wins mathematically — minimises total interest paid.
Variable: APR = Annual Percentage Rate entered by you.
Calculations assume a fixed APR throughout and that payments are made on the same day each month.
Actual results will vary with promotional rates, late fees, and payment timing.
Related Tools
- Debt Avalanche Calculator — highest APR first; minimises total interest
- Snowball vs. Avalanche Comparison — run both strategies side-by-side on your debts
- Credit Card Payoff Calculator — credit-card focused payoff tool
- Debt Payoff Calculator — single-debt payoff timeline and interest breakdown
- Debt-Free Date Calculator — find your target debt-free date
Guides & Resources
Learn how to build a debt payoff strategy, understand the math behind your plan, and avoid common traps.
- Debt Snowball vs Avalanche: Which Pays Off Faster?
- How to Build a Debt Payoff Plan Step by Step
- How Extra Payments Cut Total Interest (With Examples)
- The Minimum-Payment Trap Explained
- How to Pay Off Credit Card Debt Fastest
- Should You Consolidate Debt? Pros, Cons, and When It Backfires
- How Long Will It Take to Pay Off My Debt?
- Budgeting Basics & the 50/30/20 Rule
- Emergency Fund Guide: How Much Before Aggressive Payoff?
- Balance-Transfer Break-Even Guide (Is the Fee Worth It?)
- Biweekly Payments: How They Accelerate Loan Payoff
Frequently Asked Questions
The debt snowball method is a debt payoff strategy where you focus extra payments on your smallest debt first, regardless of interest rate. Once that debt is paid off, you roll its minimum payment onto the next smallest debt. The growing "snowball" of payments builds momentum and gives you quick psychological wins early in the process.
Enter each debt with its current balance, APR, and minimum payment, then add any extra monthly amount. The calculator simulates each month: it charges interest (balance x APR / 12 / 100), applies minimum payments to all debts, and directs the extra payment plus freed minimums at the smallest balance. Results show payoff order, total interest, and a month-by-month schedule.
The avalanche method (highest APR first) almost always results in lower total interest paid. The snowball method can cost more in interest but tends to be more effective for people who need early motivation. Use the Snowball vs. Avalanche comparison page to run both strategies on your exact debts and see the difference.
No. All calculations run entirely in your browser using JavaScript. Nothing you enter is ever sent to a server or stored anywhere.
It is the amount you pay beyond all your minimum payments combined each month. For example, if your minimums total $500 and you can afford $700/month toward debt, your extra payment is $200. That $200 is directed at the focus debt and rolls forward as debts are eliminated.