Snowball Your Debt

What is the Debt Snowball Method?

The Debt Snowball Method is a strategy where you pay off your smallest debt first, regardless of the interest rate. Once the smallest debt is paid off, you move to the next smallest, and so on. This helps build momentum, which motivates you to keep going!

Debt Snowball vs. Debt Avalanche

The Debt Avalanche Method involves paying off the highest interest rate debt first, potentially saving more money in the long run. The Debt Snowball Method is more focused on motivation and emotional rewards.

How to Use the Debt Snowball Calculator

1. Enter your debts and their monthly payments.
2. Select the debt you want to focus on first (usually the smallest balance).
3. Click "Calculate" to see how long it will take to pay off your debts and the total interest savings!