Debt Snowball Calculator
Use the snowball method to pay off multiple debts.
Your Debts
4y 6m
Debt-Free In
$23,000
Total Debt
$2,947
Total Interest
$675/mo
Total Payment
Learn More
Understanding This Calculator
What this calculator does
This calculator applies the debt snowball method: you pay off debts smallest balance to largest, rolling each freed-up payment into the next debt, building momentum through quick wins.
How to use the results
- 1.Enter all debts sorted (or let it sort) from smallest to largest balance.
- 2.Enter your total monthly payment budget.
- 3.See the cascade timeline as each debt is eliminated and its payment rolls to the next.
Worked example
Debts of $500, $2,500, and $7,000: paying minimums plus extra on the $500 first knocks it out in months, then that full payment attacks the $2,500, then the $7,000 — each step feels faster than the last.
Important assumptions & limitations
- •Assumes you redirect 100% of a paid-off debt's payment to the next one (no lifestyle inflation).
- •Does not optimize for interest — that's the avalanche method. Snowball prioritizes psychology.
- •Ignores balance transfers or rate changes.
Frequently asked questions
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Mike Starr
Founder, FinanceWizardTools · M.S. Organizational Management