Debt Snowball Calculator

Worked example

Cards at $900, $3,500, and $8,000 with $400 total monthly payment: pay minimums on the two larger cards, attack $900 first—when cleared, the full $400 targets $3,500.

When to use this

• You want quick balance wins to stay motivated on a debt plan.
• Several small cards or medical bills are blocking cash flow.
• Building a payoff order before sending extra payments each month.
• Comparing snowball timeline to minimum-payments-only on mixed debts.
• Testing how a one-time snowflake or biweekly payments change payoff date.

Common examples

• Three cards: clear $800 first, roll payment into $4,200 balance.
• Store card $450 at 28% APR still snowballs first if smallest—motivation over math.
• $50 extra on top of $380 minimums accelerates smallest balance.
• $900 retail card + $3,500 personal loan + $8,000 auto with $150 extra → card gone in ~7 months.
• $200 snowflake on month one plus $75 monthly extra clears a $1,100 medical bill faster.

Common mistakes

• Adding new charges while running a payoff plan—model zero new spending.
• Skipping minimums on non-target debts—always pay every minimum on time.
• Choosing snowball when a high-APR balance is costing far more in interest.
• Forgetting that store-card deferred interest can reset the clock.
• Assuming biweekly half-payments equal one extra monthly payment without checking the schedule.

How it works

Orders debts from smallest balance to largest. You pay minimums on all accounts and apply every extra dollar to the smallest until it is zero, then roll that payment into the next smallest balance.

Limitations

Results are estimates for educational purposes and are not financial advice. Actual payoff timing depends on issuer policies and payment timing.

Privacy and file handling

Your data stays on your device and is not uploaded.

Formula or method

Each month accrues interest, applies minimum payments, then applies all extra cash to the smallest remaining balance. Paid-off minimums roll into the extra pool.