Debt Snowball Calculator

Create a strategic debt payoff plan using the snowball or avalanche method. See your path to debt freedom!

Payoff Strategy

Choose Your Strategy

Pay off smallest balances first for psychological wins

Extra Monthly Payment

Additional amount you can pay toward debt each month

Your Debts

Debt #1

Debt Name

Balance

Minimum Payment

Interest Rate (%)

Debt #2

Debt Name

Balance

Minimum Payment

Interest Rate (%)

Debt #3

Debt Name

Balance

Minimum Payment

Interest Rate (%)

Debt Snowball Method

The debt snowball method focuses on paying off your smallest debts first while making minimum payments on larger debts.

Advantages:

• Quick psychological wins
• Builds momentum and motivation
• Simplifies your debt portfolio faster
• Reduces number of monthly payments

Debt Avalanche Method

The debt avalanche method focuses on paying off your highest interest rate debts first, which saves more money over time.

Advantages:

• Saves more money in interest
• Mathematically optimal approach
• Reduces total payoff time
• More cost-effective long-term