Debt Snowball Calculator

Online debt snowball strategy calculator (lowest balance first), with a spreadsheet generated.

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Debt Snowball Method

  • The debt snowball strategy is used for debt reduction, where you pay from smallest to largest. By increasing payment of the next debt from the expiring debt, in order from smallest to largest.

    By increasing your payment, you able to reduce the period of payment and the interest.

    Disclaimer: For every debt that's not realistic, the calculator may not be strict with the snowball method, and may start payoff the shortest term before the smallest balance. You don't have to worry about the calculation, only the snowball method can change if debts are not realistic. You can check how the payment roll on the spreadsheet.

  • How to use this calculator

    First, there are three optional inputs, the date, extra payment, startup payment (extra payment first month), and the debt name. But it is better to add the date, to be able to track the date, and the name is better for you to add to be able to determine debts.
    Secondly, enter the balance owed, it can be from the start of the debt, or from the current time, then add the annual interest rate, and the minimum payment.
    Finally, click on the "add" button and add another debt, you can add an unlimited number of debts.

    The snowball calculator will generate you a debt snowball spreadsheet, and a regular debt spreadsheet, with a comparison between the regular payments and the snowball strategy. You will know the total owed, the interest, period, and how many you save with the snowball method.

    This calculator is an alternative to the Excel snowball calculator and Excel snowball spreadsheet. But by this calculator, you are able to calculate and generate a snowball spreadsheet online and compare the snowball method with the regular payment. without registration, no limit, and the ability to track or share your debt snowball by copying and saving the URL generated above, or by clicking on the "save" button and bookmarking the page.