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Debt Snowball Calculator

The debt snowball method attacks the smallest balance first while minimums keep the rest current. Momentum is the product here: closing the $2,100 card in this three-debt example can matter more than saving a few dollars of interest early on.

Snowball ordering is fixed in the clear-order list and month-by-month table. Avalanche still runs in the background so you can see the interest gap before you commit. Controls below swap in your real cards and loans. PDF page one highlights which account snowball retires first.

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Avalanche (highest rate first)

Payoff: 38 months

Total interest: $3,177.55

First debt cleared: month 26

Snowball (smallest balance first)

Payoff: 39 months

Total interest: $3,302.31

First debt cleared: month 13

Avalanche: 38 months · $3,177.55 interest

Snowball: 39 months · $3,302.31 interest

Avalanche saves $124.76 in interest compared to snowball.

Snowball clears your first debt 13 months sooner.

Paying only minimums costs $3,378.12 more in interest than avalanche.

Snowball clear order

  1. 1. Mastercard: month 13
  2. 2. Visa: month 31
  3. 3. Car loan: month 39
MonthDebtPaymentInterestPrincipalBalance
1Visa$1,440.00$1,065.71$374.29$4,425.71
1Mastercard$2,220.00$245.31$1,974.69$125.31
1Car loan$2,340.00$498.25$1,841.75$6,658.25
2Visa$3,475.00$763.39$2,711.61$1,714.10
2Mastercard$127.40$2.09$125.31$0.00
2Car loan$2,340.00$374.92$1,965.08$4,693.17
3Visa$1,830.93$116.83$1,714.10$0.00
3Car loan$3,865.00$226.72$3,638.28$1,054.89
4Car loan ✓$1,063.98$9.09$1,054.89$0.00

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Snowball worked example

Worked example: smallest debt is a $950 store card at 26% with a $35 minimum. Medium card is $2,800 at 22%. Car loan is $11,500 at 6.9%. With $425 extra per month, snowball retires the $950 card in month three, then rolls its $35 minimum plus the extra toward the $2,800 balance. The PDF highlights that clear order at the top.

Debt snowball FAQs
Why does snowball ignore interest rate when ordering debts?
Snowball assumes quick closures matter more than mathematical optimum. Avalanche still appears in the comparison strip so you can see how much interest the ordering costs.
Can I switch to avalanche after the first card clears?
The printable reflects the strategy you select in the controls. Re-run with avalanche if you want a new schedule after a win, or keep snowball for the remaining balances.
What if a minimum payment does not cover interest?
The tool flags rows where the minimum is below monthly interest. Fix the minimum or balance before trusting the payoff date.

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