Crush your debts fastest — smallest balance first
Your Debts
Even $50–$200 extra/month can cut years off your payoff timeline.
Payoff Summary
Payoff Order (Snowball)
Debts are sorted smallest-to-largest. When one is paid off, its payment rolls into the next.
Balance Over Time
Combined remaining balance across all debts, month by month.
Your extra $200/month saves you:
Without extra payments: debt-free Aug 2031 (5y 2m).
Disclaimer: This calculator is for educational purposes only. Results assume fixed interest rates and consistent monthly payments. Actual payoff times may vary. Consult a financial advisor for personalized debt management advice.
The debt snowball calculator helps you eliminate multiple debts by targeting the smallest balance first. Enter each debt's balance, interest rate, and minimum payment, then add any extra monthly amount you can spare. The tool orders your debts smallest-to-largest, simulates the snowball rolling each freed payment forward, and shows your exact debt-free date along with total interest paid.
The debt snowball method, popularized by Dave Ramsey, has you pay minimums on all debts while throwing every spare dollar at the smallest balance. Once that debt is gone, you roll its full payment into the next smallest. This creates a growing "snowball" of freed cash that accelerates each successive payoff.
Any amount you enter as an extra monthly payment is added on top of all minimum payments and directed entirely at the current snowball target (the smallest remaining debt). Even $50–$200 extra per month can shave years off your timeline and save thousands in interest.
If your minimum payment is less than or equal to the first month's accrued interest, the balance would never decrease — the debt would grow forever. You need to increase the minimum until it exceeds monthly interest to make forward progress. The calculator flags this so you can correct it before running the simulation.
The snowball targets smallest balance first for quick psychological wins, while the avalanche targets highest interest rate first to minimize total interest paid. The snowball typically costs slightly more in interest but is highly motivating because you see debts disappear sooner — making it one of the most effective strategies for people who need momentum to stay on track.