PlanetToolbox

Debt Snowball Calculator

Build a debt payoff plan using the snowball or avalanche method with minimum payments and extra monthly cash.

Payoff time

24 months

Interest paid

$1,300

Total paid

$13,000

Strategy

Snowball

Debt payoff inputs

Compare snowball and avalanche payoff

Payoff strategy

Extra monthly payment

Debt 1 name

Debt 1 balance

Debt 1 APR

Debt 1 minimum

Debt 2 name

Debt 2 balance

Debt 2 APR

Debt 2 minimum

Debt 3 name

Debt 3 balance

Debt 3 APR

Debt 3 minimum

Payoff summary

Months to debt free: 24
Total interest: $1,300
Total paid: $13,000
Payoff order: 3 debts

Payoff order

1. Card AMonth 6; interest $85

2. Card BMonth 14; interest $442

3. LoanMonth 24; interest $772

Result actions

Next steps

Credit card payoffModel a single card payoff timeline and interest cost.Budget calculatorCheck monthly cash flow before assigning extra debt payments.Personal loanCompare consolidation payments against the payoff plan.

Snowball vs avalanche

The snowball method targets the smallest balance first. The avalanche method targets the highest APR first. Both assume minimum payments continue and paid-off payments roll into the remaining debts.