Debt Snowball Calculator
Pay off debts from smallest to largest balance for quick psychological wins. The snowball method keeps you motivated as you knock out debts one by one.
How the Debt Snowball Works
The debt snowball method, popularized by Dave Ramsey, focuses on behavioral psychology over pure mathematics. By paying off small debts first, you get quick wins that motivate you to keep going.
- List debts smallest to largest (ignore interest rates)
- Pay minimums on all debts except the smallest
- Attack the smallest debt with all extra money
- When smallest is paid off, roll that payment to the next
- Repeat until debt-free!
While the avalanche method saves more on interest, studies show snowball users are more likely to become debt-free because the quick wins keep them motivated.
Disclaimer: This calculator is provided for educational and informational purposes only. Results are estimates based on the inputs you provide and may contain errors or inaccuracies. This tool does not constitute professional financial, investment, or tax advice. Individual circumstances vary, and you should consult with a qualified financial advisor, accountant, or other professional before making any financial decisions. We make no guarantees regarding the accuracy, completeness, or reliability of the calculations or results provided.
Track Your Snowball Progress
Watch your debts disappear one by one. SavePoint shows your quick wins and celebrates each payoff.
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