Financial Tools
Snowball Method Calculator
Pay off smaller debts first to build momentum. Every cleared balance frees its minimum payment for the next one.
Your Budget
Extra Monthly Payment on Top of Minimums (goes to the target debt, rolls over when a debt is cleared)
Your Debts
Values shown are examples. Enter your real balances, rates and minimums, up to 10 debts.
Snowball Plan
| Debt-free In | n/a |
| Debt-free By | n/a |
| Total Debt | $0 |
| Monthly Budget (minimums + extra) | $0 |
| Total Interest | $0 |
| Total Paid | $0 |
| Payoff Order | n/a |
| Compared With the Other Method | n/a |
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Questions people ask
How does the snowball method work on this page?
Each month the page charges interest on every debt, pays the minimum on each one, and sends the rest of your budget to the debt with the smallest balance. When that debt is cleared, its minimum rolls into the extra amount for the next smallest balance.
Why can snowball cost more interest than avalanche?
Snowball picks targets by balance, not by rate, so a small low rate debt can get paid before a large high rate one keeps charging interest. The Compared With the Other Method line shows the gap on your own numbers.
What happens if my budget does not cover the minimum payments?
The page cannot build a plan and shows a note asking you to add an extra amount or check the minimums. The monthly budget is the sum of your minimums plus the extra payment, so every debt needs its minimum covered first.
Does the plan account for new charges or rate changes?
No. It assumes the balances, rates and minimums you entered stay fixed and that you add no new debt while paying them off.
