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Debt Snowball Calculator

Debt Snowball Calculator is a financial planning tool to help you payoff your debt earlier and save money on interest payments using the debt snowball method.

Debt Snowball Calculator
Debt # Balance ($) Interest Rate (%) Monthly Payment ($) Interest Cost # of Payments Left
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You will pay off all your debts in 41 months (Feb, 2029) which will cost you $6,442.33 in total interest payments. If you follow the debt snowball method, you can payoff all your debts in 22 months (Jul, 2027) and save $1,634.29 in interest payments.

Compare Regular Vs. Snowball
Regular Snowball
# of Payments 41 22
Payoff Date Feb, 2029 Jul, 2027
Principal $24,000.00 $24,000.00
Interest Payment $6,442.33 $4,808.04
Total Payment $30,442.33 $28,808.04
Total Savings $0.00 $1,634.29

Debt Snowball Amortization Schedule
Payment # Date Debt #3 Debt #2 Debt #1
1 Oct, 2025 $450 $400 $500
2 Nov, 2025 $450 $400 $500
3 Dec, 2025 $450 $400 $500
4 Jan, 2026 $450 $400 $500
5 Feb, 2026 $450 $400 $500
6 Mar, 2026 $450 $400 $500
7 Apr, 2026 $450 $400 $500
8 May, 2026 $450 $400 $500
9 Jun, 2026 $177.67 $672.33 $500
10 Jul, 2026 $0.00 $850 $500
11 Aug, 2026 $0.00 $850 $500
12 Sep, 2026 $0.00 $680.10 $669.9
13 Oct, 2026 $0.00 $0.00 $1350
14 Nov, 2026 $0.00 $0.00 $1350
15 Dec, 2026 $0.00 $0.00 $1350
16 Jan, 2027 $0.00 $0.00 $1350
17 Feb, 2027 $0.00 $0.00 $1350
18 Mar, 2027 $0.00 $0.00 $1350
19 Apr, 2027 $0.00 $0.00 $1350
20 May, 2027 $0.00 $0.00 $1350
21 Jun, 2027 $0.00 $0.00 $1350
22 Jul, 2027 $0.00 $0.00 $60.90

What is the debt snowball method?

The debt snowball method is a debt repayment strategy that involves paying off your debt starting with the smallest debt, and then the second smallest, until all your debt are paid off.

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