Free calculators
Debt Snowball Calculator
Find your debt-free date, your payoff order and how much interest your extra payment saves.
Results
Payoff order
Want the full version? Debt Snowball Payoff Tracker
Excel and Google Sheets · instant download · $12
Snowball vs. avalanche
Both methods pay the minimum on every debt and put all extra money toward one target debt. When that debt is gone, its payment rolls into the next one, so your payoff amount grows like a snowball.
- Snowball: target the smallest balance first. You get quick wins, which helps many people stick with the plan.
- Avalanche: target the highest interest rate first. It usually costs less in total interest.
Switch between the two above to see the difference for your own debts. For many people the gap is smaller than expected, and the method you will actually stick with is the better one.
Why the extra payment matters so much
Interest is charged on the remaining balance each month. Every extra dollar lowers the balance that is charged interest next month, and freed-up minimum payments keep rolling forward. That is why even a small extra amount can cut years off your payoff date.
The full Debt Snowball Payoff Tracker lets you track up to 26 debts, update balances as you pay, and keep a payoff chart in Excel or Google Sheets.
Read the guide: Debt snowball vs. avalanche: which saves more?
Questions
What is the debt snowball method?
You list debts from smallest to largest balance, pay minimums on all of them and put every extra dollar on the smallest one. When it is paid off, you roll its payment into the next smallest.
Is the snowball or avalanche method better?
Avalanche usually saves more interest because it attacks the highest rate first. Snowball gives faster wins. The calculator shows both so you can decide with real numbers.
Should mortgages be included?
Most people leave the mortgage out and focus on consumer debt like credit cards, car loans and personal loans. You can include it if you want to see the full picture.
Why does the calculator say a debt is never paid off?
If a minimum payment is lower than the interest charged each month, the balance grows. Raise the payment or add an extra amount.