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Calculators Menu

Snowball Debt Elimination Calculator

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.



Financial Calculators from
Dinkytown.net

Financial Calculators ©1998-2025 KJE Computer Solutions, Inc.









*indicates required.

Start payoff with

Select the order you would like to pay off your debt.

Current payment:

Current payment

This is the total of your minimum monthly payments for all of your current loans and credit cards. This is your current total only. As your debt is paid off, the minimum monthly payment for credit cards can decrease.

Accelerator amount

This dollar amount is in addition to your monthly minimum payments that you will use to pay down your debt. The higher this amount, the faster your debt will be paid off. It is important that your accelerator amount is one that you can afford. For the snowball method to be effective you must be consistent in your payments. Should you choose an amount that is too high, you may become discouraged if you are unable to meet your payment goal.

$0
$1k
$10k
$100k
0
24
48
72
Use credit card minimums.

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k

Balance

Your total current balance for this loan or credit card.

$0
$1k
$5k
$20k

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

0%
10%
20%
30%

Payment

This is your monthly payment.

$0
$1k
$5k
$20k
**FIG_GRAPHTITLE** Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Debt Balance


**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Total Interest Payments


Definitions

Start payoff with

Select the order you would like to pay off your debt.

Current payment

This is the total of your minimum monthly payments for all of your current loans and credit cards. This is your current total only. As your debt is paid off, the minimum monthly payment for credit cards can decrease.

Accelerator amount

This dollar amount is in addition to your monthly minimum payments that you will use to pay down your debt. The higher this amount, the faster your debt will be paid off. It is important that your accelerator amount is one that you can afford. For the snowball method to be effective you must be consistent in your payments. Should you choose an amount that is too high, you may become discouraged if you are unable to meet your payment goal.

Balance

Your total current balance for this loan or credit card.

rate

The annual percentage rate you pay for this loan or credit card. The rate you enter is used to calculate the interest on all future loan or credit card payments. The length of time to pay off this debt may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.

Payment

This is your monthly payment.

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