Debt Snowball Calculator
The debt snowball pays every minimum, then puts all your extra money on the smallest balance until it is gone. Its minimum then rolls into the next smallest, so the payment on each successive debt grows like a snowball. The appeal is momentum: you see a zero balance quickly, often within a few months, and that early win keeps many people going.
The cost is interest. Because snowball ignores rates, it usually costs a little more than avalanche, typically a few hundred dollars on a mid-sized set of debts. This calculator locks the order to snowball, shows the date each debt hits zero, and puts the avalanche figure beside it so you can decide whether the quick wins are worth the difference.
Results
Compared with your current plan
Debt-free on the same date, $282 less interest
By switching to Debt avalanche. Your current plan finishes October 2028 with $2,412 in interest.
| Strategy | Debt-free | Months | Total interest | First debt gone (month) | Saved vs minimums |
|---|---|---|---|---|---|
| Minimums only | Jul 2031 | 58 | $4,999 | 25 | — |
| Snowball | Oct 2028 | 25 | $2,412 | 10 | $2,588 |
| Avalanche | Oct 2028 | 25 | $2,129 | 25 | $2,870 |
Avalanche saves you $282 versus snowball, but your first debt clears in 25 months instead of 10. If early wins keep you going, snowball costs $282 extra for that.
At minimum payments only, these debts take 4 years 10 months and cost $4,999 in interest. With $150 extra a month you are debt-free in 2 years 1 month after $2,412 in interest.
Enable JavaScript to edit the numbers above and see your own plan, charts, and month-by-month schedule.
Frequently asked questions
How does the debt snowball method work?
List your debts from smallest balance to largest, ignoring the interest rates. Pay the minimum on all of them and put every extra dollar toward the smallest. When it is paid off, take everything you were paying on it and add that to the next smallest debt. Repeat until the last balance is gone.
Why do people choose snowball if avalanche is cheaper?
Because the first payoff arrives sooner, and that visible progress makes people more likely to stick with the plan. Research on debt repayment consistently finds that closing accounts, not just reducing balances, predicts finishing. If the interest gap is small, which it usually is, the behavioral edge can be worth more than the dollars.
What if two debts have nearly the same balance?
The calculator breaks ties by putting the higher APR first, which costs nothing in momentum and saves a little interest. If you prefer a specific order for your own reasons, the Advanced section lets you type a custom order by debt number and the schedule will follow it exactly.
Should I include my mortgage or car loan in the snowball?
Include any debt you actually want to eliminate early. Most people leave a mortgage out because its rate is low and the balance is large, but include car loans, personal loans, medical bills and cards. The tool treats every row the same way, so add whatever you want the plan to cover.
How much extra should I pay each month?
As much as you can sustain every month without borrowing again. Consistency matters more than size; a steady $100 beats an occasional $500. The table below the results shows what each additional $50 or $100 does to your date, which is a useful way to decide whether trimming a specific expense is worth it.