Debt Snowball Calculator




This calculator compares the different methods of repaying debts. It approximates the difference in savings and time by paying debts aggressively vs. passively. With a monthly budget, figure out how much extra you can put towards this debt beyond your monthly minimum payments, and add that to the box below.

Results

Beginning Balance:

Using The Debt Snowball Method
Total Paid
Time:
Paying Off The Highest Interest Rate
Total Paid
Time:
Just Paying The Minimum Payments
Total Paid
Time:

Interest Compound method: Daily

Debt Name Balance (e.g. 5000) Minimum Payment (e.g. 200) Interest Rate (e.g. 9.5)


Extra Monthly