Debt Snowball Calculator
List up to four debts, their APRs, minimum payments, and an extra monthly budget. The snowball rolls freed payments to the smallest remaining balance.
Your debts
Debt 1 balance ($)iUse your best current estimate; lender and account terms control. | |
|---|---|
Debt 1 APR (%)iUse your best current estimate; lender and account terms control. | |
Debt 1 minimum ($)iUse your best current estimate; lender and account terms control. | |
Debt 2 balance ($)iUse your best current estimate; lender and account terms control. | |
Debt 2 APR (%)iUse your best current estimate; lender and account terms control. | |
Debt 2 minimum ($)iUse your best current estimate; lender and account terms control. | |
Debt 3 balance ($)iUse your best current estimate; lender and account terms control. | |
Debt 3 APR (%)iUse your best current estimate; lender and account terms control. | |
Debt 3 minimum ($)iUse your best current estimate; lender and account terms control. | |
Debt 4 balance ($)iUse your best current estimate; lender and account terms control. | |
Debt 4 APR (%)iUse your best current estimate; lender and account terms control. | |
Debt 4 minimum ($)iUse your best current estimate; lender and account terms control. | |
Extra monthly budget ($)iUse your best current estimate; lender and account terms control. |
How to use this calculator
- Fill in each active debt’s balance, APR, and required minimum; leave unused rows at zero.
- Add money above the combined minimums.
- Read the payoff order and modeled date-free horizon.
Results explained
The snowball chooses the smallest positive balance first, while minimums continue on other debts. Once a debt reaches zero, its former minimum joins the target payment.
Quick reference: snowball order
The behavioral focus is quick balance wins, not necessarily minimum interest.
| Item | Detail |
|---|---|
| Priority | Smallest remaining balance |
| Other debts | Receive their stated minimums |
| Rolled payment | Freed minimums + extra budget move to next target |
The model assumes fixed APRs, no new charges, and sufficient minimum payments to cover monthly interest.
How it’s built
Each month, all balances accrue APR/12. Available money covers minimums, then the remaining budget attacks the smallest balance.
Example
With a $1,200 card, a $3,500 card, and a $7,800 loan, the $1,200 card is targeted first even if another balance has a higher APR.
FAQ
Why does snowball not target the highest APR?
Its rule is smallest balance first, which can create early milestones.
Can I add a fifth debt?
This compact page supports four rows; combine or prioritize additional balances separately.
What if a minimum is too low?
If payment cannot cover interest, the model flags that repayment may stall.