Snowball = pay minimums on everything, throw all extra at the smallest balance first for quick wins.
Example: Smallest debt balance: $1,200 · Its minimum payment: $40 · Its APR: 22% · Extra you can pay monthly: $300 → Smallest debt gone in: 4 months.
Payment applied: $340.00
Then roll $340.00 into: your next-smallest debt
Frequently asked questions
How do I calculate debt snowball? Snowball = pay minimums on everything, throw all extra at the smallest balance first for quick wins. Enter your numbers above and the result updates instantly. For example: Smallest debt balance: $1,200 · Its minimum payment: $40 · Its APR: 22% · Extra you can pay monthly: $300 → Smallest debt gone in: 4 months.
Is this Debt Snowball Calculator free? Yes — completely free with no sign-up or paywall. It runs entirely in your browser and keeps working offline; the numbers you enter never leave your device.
How accurate is it? It uses the standard published formula for debt snowball. Results are estimates for planning — not financial, tax, medical, engineering, or legal advice.