Debt snowball calculator
Pay every minimum and send the extra to the smallest balance. Each cleared debt frees its payment for the next one, so the payment grows.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter debts: one per line (name, balance, apr %, minimum payment) and extra monthly amount above the minimums.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Monthly budget = sum of minimums + extra. Each month: interest is added to each debt (balance × APR ÷ 12), every minimum is paid, and the rest goes to the debt with the smallest starting balance.
Example
Inputs: Extra monthly amount above the minimums = 200. Result: Time until debt free: 23 months; Total interest: 1,264.74; Total paid: 12,364.74.
Limits and caveats
- Assumes fixed rates, no new debt, and does not round to cents.
- The order is set by the starting balances.
Questions about this tool
Why start with the smallest debt, not the highest rate?
Clearing a whole debt quickly keeps you motivated. It can cost a little more interest than the avalanche method.
What do I type in the debts box?
One debt per line: name, balance, APR, minimum payment, separated by commas, for example: Visa, 2500, 24, 75.
What if the budget is too small?
If payments do not cover the interest the debts never clear, and the calculator asks you to raise the extra amount.