SnowballCalculator.net

I Built This to Help You
Crush Your Debt Faster.

I know what it's like to feel buried under bills. Whether you prefer the psychological win of the Snowball or the math of the Avalanche, I've designed this tool to give you a clear, honest roadmap to freedom.

1. Enter Your Debts

Amount you pay EVERY month on top of minimums.

Debt Free Date
July 2030

In 4 Years 7 Months

Total Interest Paid
$4,874

Money paid to lenders

Total Repayment
$29,874

Principal + Interest

Your Freedom Timeline

The First 12 Months

Secure & Accurate
MonthAmount PaidWhat's Left
Month 1$550$24,624
Month 2$1,100$24,245
Month 3$1,650$23,863
Month 4$2,200$23,479
Month 5$2,750$23,092
Month 6$3,300$22,702
Month 7$3,850$22,310
Month 8$4,400$21,914
Month 9$4,950$21,516
Month 10$5,500$21,115
Month 11$6,050$20,711
Month 12$6,600$20,304

Debt Payoff Calculator in 3 Simple Steps

1

Enter Your Debts

Grab your credit card, car loan, and student loan statements. Plug in your balances and rates. Be honest—it's the first step to freedom.

2

Choose Your Strategy

Decide between the Snowball (smallest balance first for motivation) or the Avalanche (highest interest first for math). I'll show you exactly how much each saves.

3

Nuke Your Debt

Follow the custom monthly schedule I've built for you. Stick to it, roll over your payments, and watch your balances disappear forever.

Wait, Does Math Really Come
After Psychology?

"I spent years obsessing over interest rates, only to realize my brain was the biggest hurdle, not the percentage sign."

The Snowball (Small Wins)

The Snowball Method is about human behavior. I recommend it for most people because it gives you "quick wins." When you kill that $300 credit card in two months, your brain releases dopamine. You feel like a winner.

That feeling is addictive. It keeps you in the game when things get hard. It's the strategy that Dave Ramsey made famous, and for good reason: it sticks.

When I'd Choose Snowball:

  • ✅ You have many small payday or credit card loans
  • ✅ You've struggled to stay on a budget before
  • ✅ You feel overwhelmed by the "mountain" of debt

When I'd Choose Avalanche:

  • ✅ Your highest interest rate is MUCH higher (e.g. 29% vs 4%)
  • ✅ You are extremely disciplined with numbers
  • ✅ You want to pay the absolute minimum interest possible

The Avalanche (Math First)

The Avalanche Method looks at the cold, hard numbers. You ignore the balance size and attack the highest interest rate first.

Mathematically, you win. You pay less interest and usually finish slightly sooner. But here's the catch: if your highest interest debt is also your biggest balance, you might be paying for 18 months without "clearing" a single line item. That's where people quit.

My Professional "Secret": The Hybrid Approach

You don't have to marry one method. I often tell people to start with the Snowball to kill off 2 or 3 tiny, annoying debts. Once you have that momentum and a "bigger" monthly check to throw at debt, switch to Avalanche to save on your highest interest rate.

Debt Consolidation?

If you're paying over 20% on cards and have a 680+ credit score, a consolidation loan at 12% could save you thousands. If you're struggling to qualify, I recommend checking out a non-profit credit counseling agency approved by the Dept. of Justice.

Negotiation Works.

I've seen it happen. Call your credit card company. Tell them you're struggling. Ask for a temporary rate reduction. Even 2% lower makes this calculator's blue bars shrink significantly.

Snowball vs. Avalanche Results

MetricSnowball StrategyAvalanche Strategy
Debt-Free Date7/20/20307/20/2030
Total Interest Paid$4,874$4,874
Potential Savings-$0 in interest

My Verdict: Is saving $0 worth risking your motivation? If the number is small, stick to the Snowball. If it's thousands, force yourself into the Avalanche.

Debt Freedom FAQ: The Real Truth

Honestly? Yes. Most of the 'drowning' feeling comes from the unknown. Once you plug your numbers into this calculator, you have a date. Even if it's 3 years away, that's a finish line. Knowing where the exit is makes the fire feel a lot less scary. You've got this.
Mathematically, the Avalanche is correct—you pay less interest. But human beings aren't calculators. If the 'math' keeps you in debt for 12 months without fixing a single line item, you'll likely quit. Snowball gives you the dopamine hit of a 'win' early. My advice? Do Snowball for the first 2 small debts, then switch to Avalanche for the rest.
Common wisdom is: save $1,000 to $2,000 as a 'starter' emergency fund first. Why? Because if your tire blows out or your dog gets sick, you'll put it right back on the credit card you just paid off. That kills your spirit. Build that tiny wall first, then nuke the debt.
If you have $10,000 in savings earning 1% interest and $10,000 in credit card debt costing you 26%, you're losing money every day. Keep a small emergency fund, and use the rest of that 'stash' to kill high-interest debt. It's an instant 25% return on your money.
Stop the debt nuke immediately. Pay only the minimums. Cash is king during a crisis. Once you find a new income stream, you can go back to being a debt-destroying machine. Don't worry, the calculator will still be here when you're ready.
Usually, NO. Closing an old account can actually lower your credit score because it reduces your 'average age of credit.' Pay it off, cut up the card if you have to, but keep the account open so your score continues to climb as your utilization drops.
Know your rights. Look up the Fair Debt Collection Practices Act (FDCPA). You can tell them to stop calling you and only contact you by mail. Don't let them bully you into a payment you can't afford—use the roadmap from this calculator to decide what YOU can pay.
Not always, but be careful. Many 'debt relief' companies just let your bills go to collections to 'settle.' That ruins your credit. A 'consolidation loan' from a bank is just moving the debt to a lower interest rate—that's a smart move.