Debt Snowball Calculator
Free online debt snowball calculator. Compare snowball vs avalanche vs minimum payments. See your debt-free date and total interest saved.
📋 Your Debts
Pay lowest balance first — builds momentum & motivation
📊 Total Interest Paid — Comparison
Debt Snowball vs Avalanche Method
Two proven strategies to pay off debt faster: the Snowball method targets the smallest balance first for quick wins and motivation, while the Avalanche method targets the highest interest rate first to minimize total interest paid.
How the Snowball Method Works
List all your debts from smallest to largest balance. Pay minimums on everything, then throw every extra dollar at the smallest debt. Once it's paid off, roll that payment into the next one — like a snowball gaining size and speed.
How the Avalanche Method Works
Same approach, but sorted by interest rate instead of balance. You attack the most expensive debt first. Mathematically it saves more money, but it can feel slow if your highest-rate debt has a large balance.
Tips to Accelerate Payoff
- Always pay minimums on all debts to avoid penalties and credit score damage.
- Direct windfalls (tax refunds, bonuses, side income) straight to your target debt.
- Avoid taking on new debt while paying off existing balances.
- Even an extra $50/month can shave months off your payoff timeline.