Debt Snowball Calculator
Calculate how the snowball method can help you pay off multiple debts
Enter your debts to see how the snowball method can help you become debt-free faster.
Enter Your Debts
Understanding the Debt Snowball Method
How the Snowball Method Works
- List all debts from smallest to largest balance
- Pay minimum payments on all debts
- Put extra money toward smallest debt
- Roll payments to next debt when one is paid off
Why the Snowball Method Works
- Quick wins build momentum and motivation
- Reduces number of monthly payments faster
- Simplifies debt management
- Creates a clear path to debt freedom
Tips for Success with the Snowball Method
Getting Started
- • List all debts with balances and minimum payments
- • Create a realistic budget
- • Find extra money to put toward debt
Staying Motivated
- • Track your progress visually
- • Celebrate each debt paid off
- • Share your goals with others