Snowball Debt Payoff Calculator

The debt snowball method is a strategy to reduce and eliminate debt. Here’s how it works:

1. List your debts: List all your outstanding loans and credit card debts from smallest to largest, regardless of interest rates.
2. Minimum payments: Make minimum payments on all your debts except the smallest one.
3. Extra payments: Put any extra money toward the smallest debt until it’s paid off.
4. Repeat: Once the smallest debt is gone, move to the next smallest debt and continue the process.

List your debts

Ranking: from smallest to largest, regardless of interest rates