Debt Snowball Calculator

List up to three debts and their minimums. The snowball plan pays every minimum, sends extra money to the smallest balance, and rolls freed payments to the next debt. Calculate it clearly with Figur.

How the debt snowball calculator works

List up to three debts and their minimums. The snowball plan pays every minimum, sends extra money to the smallest balance, and rolls freed payments to the next debt.

Method and assumptions

Figur applies standard payment, interest, or projection formulas to the values you enter. The calculation runs entirely in your browser.

  • Rates and contributions stay constant for the period unless the calculator says otherwise.
  • Taxes, insurance, fees, penalties, and lender-specific terms are excluded unless a field explicitly includes them.
  • Results are rounded estimates; a financial institution may use different rounding rules or payment dates.

This tool is for general information, not financial, tax, legal, or investment advice. Confirm important figures with the relevant institution or a qualified professional.

Sources and references

No external rates or products are consulted: the calculator applies standard financial formulas only to the values you enter.

Worked example

$800 at 18% ($35 minimum), $3,200 at 24% ($110 minimum), and $8,000 at 8% ($180 minimum), plus $175 extra monthly.

Debt-free in 28 months, following Debt 1 → Debt 2 → Debt 3, with about $1,606.26 in interest.

Frequently asked questions

What is the snowball method?

You pay smallest balances first for quick wins, keeping the total payment steady.

Why keep the payment steady?

Holding the payment constant is what accelerates payoff over time.

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