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
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Extra Monthly Payment

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

Compare Regular Vs. Snowball
Regular Snowball
# of Payments 41 22
Payoff Date Mar, 2028 Aug, 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 Nov, 2024 $450 $400 $500
2 Dec, 2024 $450 $400 $500
3 Jan, 2025 $450 $400 $500
4 Feb, 2025 $450 $400 $500
5 Mar, 2025 $450 $400 $500
6 Apr, 2025 $450 $400 $500
7 May, 2025 $450 $400 $500
8 Jun, 2025 $450 $400 $500
9 Jul, 2025 $177.67 $672.33 $500
10 Aug, 2025 $0.00 $850 $500
11 Sep, 2025 $0.00 $850 $500
12 Oct, 2025 $0.00 $680.10 $669.9
13 Nov, 2025 $0.00 $0.00 $1350
14 Dec, 2025 $0.00 $0.00 $1350
15 Jan, 2026 $0.00 $0.00 $1350
16 Feb, 2026 $0.00 $0.00 $1350
17 Mar, 2026 $0.00 $0.00 $1350
18 Apr, 2026 $0.00 $0.00 $1350
19 May, 2026 $0.00 $0.00 $1350
20 Jun, 2026 $0.00 $0.00 $1350
21 Jul, 2026 $0.00 $0.00 $1350
22 Aug, 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.

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