MasterTool

Debt Snowball Calculator

Calculate debt snowball from your own entered figures.

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Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.

What this tool does

Calculate debt snowball from your own entered figures. Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.

How to use the Debt Snowball Calculator

  1. Enter or select debts (name, balance, apr, minimum payment — one per line).
  2. Enter or select total monthly debt budget.
  3. Read the calculated result; change any measurement to compare alternatives.

Formula

simulate month by month: interest accrues on each balance at APR/1200, every debt gets its minimum, and all remaining budget attacks the smallest balance first; when a debt clears, its minimum rolls into the next smallest debt
debts
Debts (Name, balance, APR, minimum payment — one per line)
budget
Total monthly debt budget

Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.

Worked example

For debt snowball calculator, the following measurements illustrate the exact method: Debts (Name, balance, APR, minimum payment — one per line): Store Card, 1200, 26.99, 35 Visa Card, 4500, 21.99, 110 Personal Loan, 6000, 11.5, 180; Total monthly debt budget: 500.

Inputs

  • Debts (Name, balance, APR, minimum payment — one per line)Store Card, 1200, 26.99, 35 Visa Card, 4500, 21.99, 110 Personal Loan, 6000, 11.5, 180
  • Total monthly debt budget$500

Result

  • Months to debt-free29
  • Debt-free dateMarch 2029
  • Total interest paid$2,367.91
  • Total paid$14,067.91
  • Payoff orderStore Card → Visa Card → Personal Loan

Results explained

Months to debt-free
Months to debt-free from the formula above. Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.
Debt-free date
Debt-free date from the formula above. Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.
Total interest paid
Total interest paid from the formula above. Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.
Total paid
Total paid from the formula above. Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.
Payoff order
Payoff order from the formula above. Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.

Frequently asked questions

simulate month by month: interest accrues on each balance at APR/1200, every debt gets its minimum, and all remaining budget attacks the smallest balance first; when a debt clears, its minimum rolls into the next smallest debt

Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.

No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.

This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.

Check period consistency, currency, percentage inputs and the assumptions: Fixed APRs, no new charges, no fees. The snowball orders debts by balance only — it ignores interest rates, which is the point of the method (quick wins) and also why it can cost more interest than the avalanche.