Debt Snowball Calculator: Smallest Balance First
Plan paying off several debts with the snowball method, smallest balance first, and compare it with avalanche. See the month each debt clears, the total interest and the debt-free date.
Interest is estimated monthly at APR/12 on the balance before each payment, with no fees, promotional rates or daily balances. The results are estimates.
Avalanche saves 32.82 in interest, and snowball clears its first debt 7 months sooner.
Snowball (smallest balance first)
- Debt-free in month
- 22
- Total interest
- 971.14
- Card B: paid off in month 4
- Card A: paid off in month 13
- Car loan: paid off in month 22
Avalanche (highest APR first)
- Debt-free in month
- 22
- Total interest
- 938.31
- Card A: paid off in month 11
- Card B: paid off in month 13
- Car loan: paid off in month 22
About the Debt Snowball Calculator
The Debt Snowball Calculator plans paying off several debts with the snowball method: pay the minimum on every debt, and put everything else on the debt with the smallest balance. When that debt is cleared, its payment rolls on to the next smallest one, so the amount you put on each debt grows like a snowball rolling downhill.
Enter up to ten debts, each with a name, a balance, an APR and a minimum payment, and the total you can pay each month. The calculator shows the snowball plan first, with the month each debt is paid off, the month you are debt-free and the total interest. Next to it is the avalanche plan, which pays the highest APR first, so you can see how much the quicker wins of the snowball cost in interest.
Interest is estimated monthly at APR ÷ 12 on each balance before the payments, with no fees, promotional rates or daily balances, so the results are estimates.
How to use it
Enter your debts
- Fill in one row per debt: a name, the balance, the APR and the minimum payment.
- Press Add a debt for another row, up to ten, or Remove to drop one.
- Type your monthly budget for all the debts together. It must be at least the sum of the minimums.
Read the plan
The sentence at the top compares the two methods. Each plan lists the debts in the order they are cleared, with the payment month of each, counted from your first payment.
How the snowball works
Each month the calculator charges of interest on every open balance , pays each minimum, then puts what is left of the budget on the smallest open balance. If that clears it, the rest moves on to the next smallest, and so on. Ties go to the higher APR. The order is checked again every month.
Worked example
Card A owes 3,000 at 22% with a minimum of 90, Card B owes 1,000 at 18% with a minimum of 30, and a car loan owes 6,000 at 6% with a minimum of 150. With a budget of 500 a month:
- Snowball clears Card B in month 4, Card A in month 13 and the car loan in month 22, with 971.14 of interest.
- Avalanche clears Card A in month 11, Card B in month 13 and the car loan in month 22, with 938.31 of interest.
Snowball costs 32.82 more but clears its first debt 7 months sooner. A budget of 250 is refused, because the minimums alone add up to 270.00.
Related calculators
To compare the same debts with the highest rate first, open the Debt Avalanche Calculator. For a single card, the Credit Card Payoff Calculator shows the payoff month and the payment needed by a date, and the Loan Calculator handles one loan with a full schedule.
Privacy
Nothing is uploaded; every calculation runs in your browser and never leaves your device. The balances you type stay on this page and are gone when you close or reload it.
Frequently asked questions
What is the debt snowball method?
You pay the minimum on every debt and put every spare amount on the debt with the smallest balance. When it is paid off, its payment rolls on to the next smallest debt, so the payment grows like a snowball.
Is the snowball method more expensive than avalanche?
Usually a little. In the worked example of three debts and a budget of 500 a month, snowball costs 971.14 of interest and avalanche 938.31, so avalanche saves 32.82. Snowball clears its first debt 7 months sooner.
Why choose the snowball method?
Clearing a whole debt early gives a quick win and leaves fewer bills to track. Many people find that keeps them going. The calculator shows both methods, so you can see what that motivation costs in interest.
What budget do I need?
At least the sum of all the minimum payments, and more than the first month's interest. With minimums of 90, 30 and 150, the budget must be at least 270.00. Every amount above that goes to the smallest balance.
How are ties between debts settled?
If two debts have the same balance, the one with the higher APR is paid first, and then the one listed first. The order is checked again every month from the current balances.