Payoff Payment Consolidation Snowball Avalanche

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
1.
2.
3.
4.
5.
6.
Extra Monthly Payment

You will pay off all your debts in 41 months (May, 2028) 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 (Oct, 2026) and save $1,634.29 in interest payments.

Compare Regular Vs. Snowball
Regular Snowball
# of Payments 41 22
Payoff Date May, 2028 Oct, 2026
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 Jan, 2025 $450 $400 $500
2 Feb, 2025 $450 $400 $500
3 Mar, 2025 $450 $400 $500
4 Apr, 2025 $450 $400 $500
5 May, 2025 $450 $400 $500
6 Jun, 2025 $450 $400 $500
7 Jul, 2025 $450 $400 $500
8 Aug, 2025 $450 $400 $500
9 Sep, 2025 $177.67 $672.33 $500
10 Oct, 2025 $0.00 $850 $500
11 Nov, 2025 $0.00 $850 $500
12 Dec, 2025 $0.00 $680.10 $669.9
13 Jan, 2026 $0.00 $0.00 $1350
14 Feb, 2026 $0.00 $0.00 $1350
15 Mar, 2026 $0.00 $0.00 $1350
16 Apr, 2026 $0.00 $0.00 $1350
17 May, 2026 $0.00 $0.00 $1350
18 Jun, 2026 $0.00 $0.00 $1350
19 Jul, 2026 $0.00 $0.00 $1350
20 Aug, 2026 $0.00 $0.00 $1350
21 Sep, 2026 $0.00 $0.00 $1350
22 Oct, 2026 $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.

Debt Payoff Calculator | Terms | Privacy | Disclaimer | Contact

©2024 Debt Payoff Calculator