Debt Snowball Calculator
Enter all your debts below. See exactly when you'll be debt-free and how much extra payments save you.
Your Debts
Add each debt with its current balance, interest rate, and minimum monthly payment.
This extra amount rolls into the next debt as each one is paid off (the snowball effect).
Track your debt payments in Pocket Clear
Log every payment, see your balances drop month by month, and stay motivated on your debt-free journey. No bank linking required.
Frequently Asked Questions
What is the debt snowball method?
The debt snowball method pays off debts from smallest balance to largest, regardless of interest rate. You make minimum payments on all debts except the smallest, which gets every extra dollar. Once the smallest debt is paid off, its payment rolls into the next smallest debt, creating a "snowball" effect that accelerates your payoff.
How much faster does the debt snowball pay off debt?
The speed depends on how much extra you put toward debt each month. Even an extra $50-$100/month can shave months or years off your payoff date. The snowball method's real power is psychological -- quick wins from paying off small debts first keep you motivated.
Debt snowball vs debt avalanche -- which is better?
The debt avalanche (highest interest first) saves more on interest mathematically. The debt snowball (smallest balance first) provides faster psychological wins. Studies show people using the snowball method are more likely to stick with their plan and become debt-free, because the quick wins keep motivation high.