Debt Snowball Calculator
Pay off several debts month by month, smallest balance first (snowball) or highest rate first (avalanche): the payoff date of each debt, the total interest, and what the other method would change.
Result…
How it's calculated
Budget = sum of minimum payments + extra (stays the same as debts clear) Each month, for every debt: balance = balance + balance × rate ÷ 12 − minimum The rest of the budget goes to the first debt still owing in the order Snowball order: smallest balance first; avalanche order: highest rate first
Lists your debts and pays them off month by month the way the debt snowball and debt avalanche plans work. Every month you pay each minimum, and the extra amount goes to one target debt: the smallest balance (snowball) or the highest interest rate (avalanche). When a debt is cleared, its payment rolls on to the next, so the total you pay each month stays the same. It shows when each debt is cleared, when you are debt-free, the total interest, and how the other method compares. The order is fixed from the starting balances and rates.
Your numbers, step by step
About the Debt Snowball calculator
This debt snowball calculator pays off several debts month by month and shows when each one is cleared. List every debt with its balance, yearly rate and minimum payment, add an extra amount you can pay each month, and choose a method. The snowball puts the extra on the smallest balance first; the avalanche puts it on the highest rate first. Each month every minimum is paid, the extra goes to the target debt, and when a debt is gone its payment rolls on to the next, so the total you pay stays the same. You get the payoff date of each debt, your debt-free date, the total interest, and what the other method would change in months and interest. The steps list the order and the month each debt is cleared, and the chart shows what you owe over time under both plans.
How to use it
- In “Your debts: name, balance, yearly rate %, minimum payment”, replace the example lines with one line per debt, such as “Credit card 3200 24 95”.
- Enter the “Extra each month” you can pay on top of all the minimums.
- Choose the “Method”: snowball (smallest first) or avalanche (highest rate first).
- Set the “First payment date” so the payoff dates match your calendar.
- Read the months to debt-free, the total interest and the comparison with the other method.
Worked example
Take a store card of 600 at 12% with a 25 minimum, a credit card of 3,200 at 24% with a 95 minimum and a car loan of 7,500 at 8% with a 210 minimum, plus 150 extra, so 480 goes to debt each month from 1 November 2026. The snowball clears the store card in month 4, the credit card in month 17 and the car loan in month 27, so you are debt-free on 1 January 2029 after paying 1,553.60 in interest. The avalanche also takes 27 months but costs 1,479.14 in interest, which is 74.46 less.
Updated
Questions people ask
How does the debt snowball method work?
List your debts from the smallest balance to the largest, pay the minimum on all of them, and put every spare amount on the smallest. When it is paid off, add its payment to the next one, and keep going until all are cleared.
Snowball or avalanche: which saves more interest?
The avalanche, which targets the highest rate first, never costs more interest than the snowball when both pay the same amount each month. The snowball clears its first debts sooner, which some people find easier to stick with.
What happens to the payment from a debt I have paid off?
It rolls on to the next debt in the order, so your total monthly payment stays the same until everything is cleared. That roll-over is what makes the plan speed up over time.
What is a common mistake with a debt payoff plan?
Using new credit while paying the old debts down, which undoes the plan. Another is entering a payment below a debt's monthly interest: the calculator tells you when the debts can't be cleared at that budget.
Will my real payoff dates match these?
Only roughly. The calculator assumes fixed rates and interest of the yearly rate divided by 12, while lenders may charge interest daily or change rates. If debt is causing you stress, a free debt-advice service or a qualified adviser can look at your full situation; for a single card, see the credit card payoff calculator.