Snowball Calculator

Use our Debt Snowball Calculator to Save Thousands

This debt repayment strategy, created by Dave Ramsey, has helped many people lift themselves out of debt once and for all. If you’re stuck in a cycle of never-ending payments and rising interest rates – it’s time to take control of your finances again! The debt snowball strategy works like this:

  1. Pay the minimum amount to all creditors except the debt with the lowest balance.
  2. Put the extra money you have from paying only the minimum on all the other bills towards the smallest debt.
  3. Once you’ve paid off the smallest debt, roll over those funds to the debt with the next highest balance.
  4. Keep snowballing your payments until you pay off your entire debt!

This tactic appeals to human behavior by encouraging you with small victories throughout the process. Each time you pay one debt in full, you’re giving yourself the motivation to continue paying off more debt.

We’ve made starting the debt snowball simple by creating this easy-to-use calculator. You just fill in the creditor, balance owed, interest rate, and your monthly payment information for each loan or bill in your name. We will calculate how many payments are left and what you’re paying on interest. Using this information, we’ll breakdown what amount you should be paying to each creditor for all monthly payments moving forward. Just plug in your information and see how much money you could save!

Get started by filling in your debt information below.


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Entry ColumnsCalculated Columns
#CreditorBalance Owed ($)Interest Rate (%)Payment Amount ($)Interest Cost# of Payments Left
Enter a monthly dollar amount you can add to your debt repayment plan: