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Debt & Credit

Debt Snowball Calculator

Plan your debt-free date: list your debts and see the payoff order, months to freedom, and total interest with the snowball or avalanche method.

USD

On top of all minimum payments

Debt-free in
2y 6m
Total interest
$1,749.94
Total paid
$14,249.94

💡 The avalanche method would cost $1,551.68 in interest — $198.25 less.

Payoff order

  1. 1. Personal loanmonth 8 · $64.29 interest
  2. 2. Credit cardmonth 21 · $742.80 interest
  3. 3. Car loanmonth 30 · $942.84 interest

Total debt over time

M1
$12,073.33
M4
$10,769.76
M7
$9,429.96
M10
$8,170.20
M13
$6,925.23
M16
$5,633.30
M19
$4,292.24
M22
$2,992.25
M25
$1,844.47
M28
$673.59
M30
$0.00

Plan your debt-free date

List every debt with its balance, interest rate (APR), and minimum payment, then set how much extra you can pay each month. The calculator simulates every month until you're debt-free: interest accrues, minimums are paid, and all spare money attacks one target debt at a time — smallest balance first (snowball) or highest rate first (avalanche).

Worked example

Take a 3,000 credit card at 22%, an 8,000 car loan at 8%, and a 1,500 personal loan at 12%, with 150 extra per month. The snowball clears the personal loan first (quick win), then the card, then the car — debt-free in roughly two and a half years instead of the many years minimum payments alone would take.

Why rolling payments works

The magic is that your total monthly outlay never drops. When a debt is cleared, its payment doesn't return to your spending — it joins the attack on the next debt. Each payoff accelerates the next, which is why the back half of the plan goes much faster than the front.

Frequently asked questions

+What is the debt snowball method?

You pay the minimum on every debt, then put all spare money toward the smallest balance. When it's gone, its payment rolls into the next smallest — the 'snowball' grows with every debt you clear. Its strength is motivation: you see wins quickly.

+What is the debt avalanche method?

Same idea, but spare money goes to the highest-interest debt first. Mathematically it always costs the least in total interest. This calculator shows both so you can see exactly what the difference is for your debts.

+Snowball or avalanche — which should I choose?

If the interest difference is small (it often is), pick the one you'll stick with. Research suggests people who see quick wins are more likely to finish, which favors snowball. If a high-APR card dominates your debts, avalanche can save real money.

+What counts as 'extra' payment?

Anything above the sum of your minimum payments — a fixed monthly amount you commit, plus one-off windfalls. Even a small consistent extra dramatically shortens the timeline because it compounds as debts clear.

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