Debt Snowball Calculator

The debt snowball method focuses on paying off your smallest debt balance first while continuing minimum payments on your other debts.

Extra Monthly Payment ($)

Debt 1

Debt Name

Balance ($)

Interest Rate (%)

Minimum Payment ($)

Debt 2

Debt Name

Balance ($)

Interest Rate (%)

Minimum Payment ($)

Debt 3

Debt Name

Balance ($)

Interest Rate (%)

Minimum Payment ($)

Enter your debts and click Calculate Snowball.

How it works: The snowball method generally targets the smallest debt balance first. Once that debt is paid off, its payment amount can be redirected toward the next debt.

What Is the Debt Snowball Method?

The debt snowball method organizes debts from the smallest balance to the largest balance. You continue making the required minimum payments on all debts while directing additional available money toward the smallest balance.

After the smallest debt is paid off, the amount that was being used for that debt can be added to the payment for the next debt.

Snowball vs. Interest Rate

A snowball strategy prioritizes balance size rather than interest rate. Another commonly discussed approach is the debt avalanche method, which prioritizes higher-interest debt.