Debt Snowball Calculator

The Debt Snowball Calculator is a financial tool that helps individuals create a plan to pay off multiple debts systematically. It focuses on clearing smaller debts first to build momentum and motivation. Users input information about their debts, including the outstanding balance, interest rate, and minimum monthly payment. The calculator then suggests a payment strategy, including the order in which to pay off the debts.

Retirement Calculator
$ .00
$ .00

Debt List

Debt Name Balance Owed ($) Interest Rate (%) Minimum Payment ($) Action

Debt Snowball Plan


  • Debt Details: For each of your debts, including credit cards, loans, or any other type of debt, enter the following information:
  • Debt Name or Description: This can be a name or description for the debt (e.g., "Credit Card A" or "Car Loan").
  • Outstanding Balance ($): Enter the current balance you owe for this debt.
  • Interest Rate (%): Input the annual interest rate for this debt, expressed as a percentage.
  • Minimum Monthly Payment ($): Enter the minimum monthly payment required for this debt.
  • Click the "Add Debt" button: to add more debts to the list if needed.

Calculate Debt Payoff::

  • After entering the details of all your debts: click the "Calculate Debt Payoff" button to initiate the calculation.

View the Result:

  • Debt Payoff Strategy: The calculator will perform the calculation and display the recommended payoff plan in the "Debt Payoff Strategy" section.
  • Debt Payoff Order: The calculator will suggest the order in which you should pay off your debts. It will prioritize debts with the smallest outstanding balance first.
  • Total Interest Paid: This is the estimated total interest you will pay over the course of the recommended payoff plan.
  • Debt Freedom Date: The calculator will provide an estimate of when you will become debt-free if you follow the recommended plan.


  • Debt Order: The Debt Snowball method prioritizes paying off the debt with the smallest outstanding balance first. This strategy is designed to provide quick wins and motivation as smaller debts are cleared.
  • Minimum Payments: Ensure that you continue to make at least the minimum monthly payments on all your debts to avoid penalties or negative impacts on your credit score.
  • Extra Payments: If possible, consider allocating additional funds each month toward the smallest debt in your snowball plan. This can help accelerate your debt payoff.

Using this Debt Snowball Calculator can provide you with a structured plan to systematically pay down your debts while celebrating small victories along the way. It's a motivational tool for individuals who want to gain momentum in their debt reduction journey.