Finance Calc Lab
Loan

Debt Snowball Calculator

Strategic debt payoff: Snowball vs Avalanche methods

Multiple DebtsTwo MethodsSmart Strategy

Disclaimer

This calculator is for educational purposes only. Results are estimates based on your inputs. Consult a qualified financial advisor for personalized advice. Read full disclaimer

Enter Your Debts

Debt Snowball Method

Pay off smallest balance first, roll payments to next debt

Next Payment=Previous Minimum+Current Minimum+ExtraNext\ Payment = Previous\ Minimum + Current\ Minimum + Extra

Where:

NextPaymentNext Payment

Payment for next smallest debt

PreviousMinimumPrevious Minimum

Minimum from paid-off debt

CurrentMinimumCurrent Minimum

Current debt minimum

ExtraExtra

Extra monthly payment

Example:

After paying off $3k debt with $90 minimum, add that $90 to next debt's payment

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