❄️ Debt Snowball Calculator
Estimate how quickly you could pay off multiple debts using the debt snowball method, which pays off the smallest balance first.
What is the debt snowball method?
The debt snowball method pays off debts smallest balance first while making minimum payments on the rest. As each small debt is eliminated, its payment amount ‘snowballs’ onto the next smallest debt, building momentum and quick wins along the way.
How this calculator works
Enter up to three debts with their balances, interest rates, and minimum payments, plus any extra amount you can put toward debt each month. The calculator sorts debts from smallest to largest balance, applies interest and payments month by month, and rolls the extra payment (plus any freed-up minimum payments) onto the next smallest remaining debt until everything is paid off.
This tool is for general educational and planning purposes only. It is a simplified simulation that assumes fixed rates and consistent payments; actual results depend on your lender’s terms and any changes to your payment amounts over time.