Debt Snowball Calculator

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Paid on top of all minimums, aimed entirely at the smallest balance first.
Currency
Time to debt-freeDebt-free in 3-5 years
38months
Debt-free dateOct 2029
Total interest paid$3,333
Total amount paid$22,333
Total balances$19,000
Weighted average APR12.4%
Interest saved vs minimums$5,990
Months saved vs minimums60months
Extra interest vs avalanche$0
Snowball payoff order1. Debt 1 (2,500 balance) -> 2. Debt 2 (5,500 balance) -> 3. Debt 3 (11,000 balance)

Debt-free by Oct 2029 (38 months, 3 yr 2 mo), paying 3,333 in total interest.

  • Pay minimums on every debt, then throw every spare dollar at the smallest balance: 1. Debt 1 (2,500 balance) -> 2. Debt 2 (5,500 balance) -> 3. Debt 3 (11,000 balance).
  • Each time a small debt clears, its freed payment rolls straight onto the next target, building momentum.
  • Compared with paying only the minimums, this snowball plan saves about 5,990 in interest and 60 months.
  • With these debts the snowball and avalanche cost about the same - pick whichever you will actually follow through on.

Next stepWhen the first debt clears, roll its entire payment amount onto the next target immediately - do not adjust your lifestyle upward.

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