Debt Snowball Calculator
Pay smallest balance first for quick wins. See your debt-free date and total interest vs. minimum-only.
Inputs
How it works
We simulate month-by-month payments, applying minimums to all debts then directing all extra to the lowest-balance active debt until cleared, then rolling up.
Frequently asked questions
Why snowball over avalanche?
Behavioral momentum. Paying off the smallest balance first creates quick wins that keep you motivated.
Does snowball cost more?
Typically a small amount more interest than avalanche, but for many people the motivation pays for itself in execution.
What's the algorithm?
Pay minimums on everything, then put all extra cash on the debt with the smallest balance. When it's gone, roll its payment onto the next smallest.
Does it work with student loans?
Yes — the method is debt-agnostic.
Should I stop investing while paying debt?
Capture any 401(k) match first. Beyond that, high-rate consumer debt is a guaranteed return.