Debt Payoff Calculator
0 months to debt-free
How the Debt Snowball Method Works
You pay the minimum on every debt, then throw every extra dollar — including your chosen extra payment and any minimum payments freed up from debts you've already paid off — at whichever remaining balance is smallest. Once that one is gone, the next-smallest gets the full snowball, and so on.
Snowball vs Avalanche
The alternative "avalanche" method targets your highest-interest-rate debt first instead of your smallest balance, which technically saves slightly more in interest. The snowball method usually wins in practice because knocking out a full balance quickly builds momentum and keeps you motivated to stick with the plan.
Only Have One Debt?
If you're tackling a single balance, the credit card calculator or loan calculator gives a simpler payoff estimate without the snowball logic.
Frequently Asked Questions
What is the debt snowball method?
You pay minimums on every debt and put all extra money toward the smallest balance first. Once it is paid off, that payment rolls into the next-smallest balance.
Is snowball better than avalanche?
The avalanche method (highest interest rate first) usually saves slightly more in interest, but many people stick with snowball longer because paying off a full balance quickly is motivating.