| Debt Name | Balance | APR % | Min Payment (optional) | |
|---|---|---|---|---|
The Debt Snowball Method is one of the most popular ways to pay off debt fast. It works by focusing on your smallest balance first, while still making minimum payments on all other debts. As each debt is cleared, you “snowball” that payment into the next debt until you’re debt-free.
Use our Debt Snowball Calculator to:
✔ Organize your debts in order
✔ See how long it will take to pay them off
✔ Compare snowball vs avalanche methods
✔ Track your progress with an amortization schedule and debt-free date
Enter each debt: balance, APR, and minimum payment.
Choose the Snowball Method (smallest balance first) or Avalanche Method (highest interest rate first).
Add any extra monthly payment if you want to accelerate your payoff.
Click Calculate.
See:
Example Debts:
Using Snowball (smallest balance first):
👉 Payoff Credit Card 1 in 3 months, then roll that $50 into Credit Card 2 payments.
👉 Becomes debt-free in ~54 months.
Using Avalanche (highest APR first):
👉 Attack Credit Card 2 first.
👉 Debt-free in ~50 months.
👉 Saves ~$1,200 more in interest compared to snowball.
💡 Many people start with Snowball for motivation, then switch to Avalanche for savings.
Q: What is the Debt Snowball Method?
A: It’s a debt repayment strategy where you pay off debts from smallest to largest balance, rolling freed-up payments into the next debt.
Q: How is the Snowball different from the Avalanche Method?
A: Snowball focuses on smallest balances for quick wins. Avalanche focuses on highest interest rates to save money.
Q: Which method pays off debt faster?
A: The Avalanche method usually clears debt faster and with less interest, but the Snowball method helps more people stay motivated.
Q: Can I use this calculator for credit cards and loans together?
A: Yes — you can enter credit cards, personal loans, student loans, car loans, or mortgages.
Q: Does this calculator track progress month by month?
A: Yes, you get a full amortization schedule showing each month’s balance, interest, and payments.
Q: Is there a free spreadsheet version?
A: Yes, results can be exported as a Debt Snowball Spreadsheet (Excel/CSV) to track your payoff plan.