Debt Snowball Calculator

A Debt Snowball Calculator is a tool that helps you plan how to pay off your debts efficiently. It works by organizing your debts from smallest to largest balance, regardless of interest rates. Each month, you pay the minimum on all debts but focus extra payments on the smallest debt until it’s fully paid off. Then, you move that payment amount to the next smallest debt, creating a “snowball” effect that accelerates debt repayment. This approach can boost motivation and provide a clear, step-by-step path to becoming debt-free.