Snowball Debt Elimination Calculator

Use the debt snowball method to build momentum by paying off smallest debts first.

  • Methods explained
  • Saved debt portfolio
  • Compare strategies
  • Chart

No debts yet.

Add one below or import a JSON / CSV file.

CSV columns: name,balance,rate,minimumPayment

$

Extra Payment

$

How the Debt Snowball Works

  1. Pay minimums on all debts
  2. Put extra toward smallest balance
  3. When paid off, roll that payment to next smallest
  4. Repeat until debt-free!

Your debts and extra payment are saved across all calculators in the Debt category.

Snowball Results

Results show zero. Enter your numbers above to calculate.

Total Payoff Time0
Total Interest$0
Total Amount Paid$0

Payoff Order (Snowball)

Per-Debt Balance Over Time

Each color is one debt. Stacked height is total debt; bands disappear as you pay each off.

How it works›

Model and assumptions. Simulates monthly debt balances, interest and payments from the saved portfolio under the chosen strategy, extra-payment budget and dated lump sums. Freed payments follow the strategy’s allocation rules. Results include explicit incomplete-payoff status; future rate changes and new borrowing occur only if entered.CFPB: money and debt worksheetsOpenStax: annuity formulas