Debt Snowball Calculator
See your debt-free date and how much interest you save
Enter your debts and see how fast you clear them
Free · No sign-up · Updates as you typeThe snowball method pays your debts one at a time, smallest balance first. Each time one is cleared, its payment rolls onto the next, so your firepower snowballs. Add all your debts below and any extra you can spare each month.
Debt #1
$
$
Debt #2
$
$
Debt #3
$
$
$
On top of the minimums, all going to one debt at a time. Even a little helps, e.g. 200. Leave at 0 if you have nothing spare.
Debt-free with the snowball in
3 yr 3 mo
paying $25,241 in all, $4,241 of it interest
| Method | Time | Interest | Total paid |
|---|---|---|---|
Snowball Motivating | 3 yr 3 mo | $4,241 | $25,241 |
Avalanche Cheapest | 3 yr 3 mo | $3,774 | $24,774 |
| Minimums only | 11 yr 5 mo | $13,312 | $34,312 |
In plain terms: your 3 debts total $21,000. Paying only the minimums would take 11 yr 5 mo and cost $13,312 in interest. With the snowball and $200/month extra, you clear them in 3 yr 3 mo and pay $4,241 interest, saving $9,072 and 8 yr 2 mo. The avalanche is a touch cheaper still, at $3,774 interest.
Your snowball payoff order
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The debt snowball, popularised by Dave Ramsey, pays debts off from the smallest balance to the largest. As each one clears, its minimum rolls onto the next, so your payment to the target debt keeps growing, like a snowball. It builds momentum and motivation.
The debt avalanche instead targets the highest interest rate first, which pays the least total interest. Both beat making only minimum payments by a wide margin. The best method is the one you keep going with.
Step 1: Add each debt with its amount owed, interest rate, and minimum monthly payment.
Step 2: Enter any extra you can put toward debt each month, on top of the minimums.
Step 3: Read your debt-free date, the interest saved, and the exact order to pay, updated as you type.
What Is the Debt Snowball Method?
The debt snowball is a payoff strategy where you list your debts from the smallest balance to the largest. You pay the minimum on everything, then throw every spare dollar at the smallest debt until it is gone. Once it clears, you roll its whole payment onto the next smallest, and so on, so the amount hitting each new target keeps growing like a rolling snowball.
The method was popularised by the personal finance author Dave Ramsey. Its strength is behavioural: clearing a whole debt early gives a real sense of progress, and that momentum keeps people going. Studies of real repayment behaviour have found that people who tackle the smallest balance first are more likely to clear all their debt, even though it is not the cheapest route on paper.
Debt Snowball vs Debt Avalanche
The avalanche is the snowball's mathematical twin. Instead of the smallest balance, you attack the highest interest rate first, which pays the least total interest over the plan. On paper it is the cheapest and usually a little faster.
In practice the gap is often smaller than people expect, especially when your debts carry similar rates. The snowball usually costs a bit more interest but delivers quicker wins that keep you motivated. The avalanche saves the most, but can feel slow if your highest-rate debt also has a big balance. The calculator shows both, so you can weigh the money against the momentum.
The Power of an Extra Payment
Even a small extra of $50 to $200 a month can shave years off your timeline. Extra money goes straight to the principal, so less balance earns interest next month, which frees up more of your payment the month after. It compounds in your favour. The usual sources are trimming a few subscriptions, selling things you no longer use, a side income, or steering a raise or bonus at the debt. Consistency matters more than the size of the amount.
Frequently Asked Questions About the Debt Snowball
With the same extra payment, the avalanche (highest rate first) is usually a little faster and cheaper, because you kill the most expensive interest first. The snowball (smallest balance first) clears whole debts sooner, which feels great and keeps people going. The gap is often small, so the best method is the one you will actually stick with.
Usually no. Most planners keep the mortgage out and attack consumer debt first: credit cards, personal loans, car loans, student loans. A mortgage is large and low-rate, so once the costly debt is gone you can decide whether to overpay it or invest instead.
You still gain a lot. As each debt clears, its old minimum rolls onto the next one, so your payment to the target debt keeps growing even with no new money. Set the extra to 0 here and compare it to the minimum-only row to see how much the rollover alone saves.
Extra money goes straight to the principal, so less balance accrues interest next month, which frees up even more of your payment the month after. It compounds in your favour. Even $50 to $100 a month can cut years off the plan.
See Your Full Financial Picture
Paying off debt is one half of the story. Track your assets, debts, and net worth in one place with Worthmap, and watch your progress as the debts shrink and your wealth grows.
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