Debt Snowball Calculator

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Debt Snowball Calculator

Ever wonder how much you could save by paying off your debts sooner than later?

This calculator utilizes the “rollover” method for ditching your debt as quickly as possible. It’s simple. As each debt is paid off, the freed-up amount for that creditor is applied to the next debt, keeping you on track to be totally debt free! You are about to see that this method can save you a ton of money in interest charges -- and will help you on your journey to become debt free in a shorter time!

Note: If you include your mortgage in your Accelerated Debt Payoff Plan, be sure to enter only the principal and interest portion of your monthly mortgage payment. Do not include the monthly amount for taxes and insurance.

Let's Go!

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Begin by entering at least two loans or credit card balances you want to payoff, ordered from smallest balance to largest balance:

Debt # 1

Creditor
Name

Principal
Balance

Interest
Rate

Payment
Amount

Interest Cost:

Payments Left:

Add Another Debt

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Enter a monthly dollar amount, if any, that you can add to your debt payoff plan:

Extra payment:

$

Calculate Results
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Results

Current Totals

Principal Balance:

Payment Amount:

Interest Cost:

Payments Left:

Accelerated Debt Payoff Totals

Principal Balance:

Payment Amount:

Interest Cost:

Payments Left:

Time and Interest Savings from
Accelerated Debt Payoff Plan:

Interest saved in dollars:

Time saved in months:

Download PDF of Schedule

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