Debt Snowball Calculator
The snowball method targets your smallest balance first for quick wins. Enter your debts to see how fast they'll disappear and when you'll be completely debt free.
47
Months to payoff
$1,984
Total interest
$6,984
Total paid
Frequently Asked Questions
What is the debt snowball method?+
The debt snowball method means you pay off your debts from smallest balance to largest, regardless of interest rate. When you pay off the smallest debt, its payment rolls into the next smallest — like a snowball getting bigger as it rolls downhill.
Is snowball or avalanche better?+
Avalanche saves more money mathematically, but snowball gives faster psychological wins. Research shows people using snowball are more likely to stay motivated and actually become debt free. Choose whichever keeps you committed.
Who created the debt snowball method?+
The debt snowball method was popularized by Dave Ramsey as part of his Financial Peace program, though the concept of paying smallest debts first has been around for decades.
How much does the snowball method cost compared to avalanche?+
Typically 5-15% more in total interest, depending on your debt mix. For most people the difference is a few hundred dollars — worth it if the psychological motivation keeps you on track.
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