Debt Snowball Calculator
Pay minimums on every debt, direct extra money to the smallest balance, and roll freed payments forward.
Quick answer
Add each debt's name, balance, APR and minimum payment, then enter one extra monthly amount. Compare smallest-balance-first snowball with highest-APR-first avalanche.
Formula and calculation
The calculator keeps the total payment budget constant. It pays each active minimum, then sends the remaining budget to the smallest balance until that debt is cleared.
Worked example
A $1,200 balance is targeted before $3,000 and $6,000 balances even when another debt has a higher APR. The early payoff creates a visible first win.
Limitations
Snowball prioritizes early balance wins rather than minimum possible interest. Rates, minimums, fees and lender allocation rules can change actual results.
Source and methodology
Consumer Financial Protection Bureau debt resources. The source supports the general concept; ToolGemini uses only the values you enter and the formula described above.
Related tools
Money calculator hub · All calculators · Savings goal calculator
Frequently asked questions
What is the debt snowball method?
It pays minimums on all debts and directs extra money to the smallest balance first, then rolls that payment into the next debt.
Does snowball save the most interest?
Not necessarily. The avalanche method generally prioritizes interest savings by targeting the highest APR.
Can I add or remove debts?
Yes. Add as many debts as you need and remove unused rows. Every included balance needs a positive minimum payment.