Budget & Freedom Free Tool
Debt Snowball Calculator
Estimate a debt payoff plan that focuses extra money on your smallest balance first, then rolls each freed payment into the next debt.
Your Debts
Enter each balance, APR and required monthly payment. Add up to 10 debts.
This amount is added to your regular required payments and directed to the current snowball target.
Your Debt Snowball Estimate
Snowball Payoff Order
| Order | Debt | Starting balance | APR | Required payment | Estimated payoff | Interest paid |
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Extra Payment Comparison
| Scenario | Monthly debt budget | Estimated payoff | Estimated interest |
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How the debt snowball calculation works
The calculator orders debts from the smallest starting balance to the largest. Each month, your required payments are included in one total debt-payment budget. Any extra monthly payment is added to that budget.
After required payments are covered, the remaining amount goes toward the smallest unpaid debt. When that debt is paid off, its former payment stays in the monthly budget and automatically rolls to the next debt.
Interest is estimated monthly using the APR entered for each debt. Actual lenders may calculate interest, minimum payments, fees and statement timing differently.