The Debt Snowball Calculator orders your debts from the smallest balance to the largest balance. Pay the minimum required on every account, then direct any extra monthly budget to the smallest balance. When it is cleared, roll that payment into the next debt.
How the method works
Enter each debt's current balance, interest rate, and minimum payment. The calculator models the payment order and estimates the payoff timeline using the extra payment amount you provide. Actual lender fees, rate changes, and missed payments can change the result.
Interpretation
The snowball method prioritizes quick account closures and visible progress. It may cost more interest than prioritizing the highest-rate debt, so compare the result with a debt avalanche plan before choosing a strategy.