Debt tool
Debt Snowball Calculator
Plan a debt snowball strategy by paying off the smallest balance first, then rolling each cleared payment into the next debt.
Debt 1
Debt 2
Debt 3
How the snowball method works
The calculator targets the smallest balance first. Once that debt is cleared, its minimum payment rolls into the next smallest remaining debt, creating a larger and larger snowball payment.
Total debt
£8,450
Combined starting balance across all debts.
Debt-free in
1 years 11 months
Estimated payoff time using the snowball strategy.
Snowball summary
Strong momentum
Starting monthly payments: £430
This snowball plan could create strong momentum and meaningfully shorten your payoff time.
Interest saved vs minimums
£953
Time saved vs minimums
1 years 7 months
Payoff order
Step 1
Pay off Debt 1
Starting balance: £850. Estimated cleared after 5 months.
Step 2
Pay off Debt 2
Starting balance: £2,400. Estimated cleared after 1 years 2 months.
Step 3
Pay off Debt 3
Starting balance: £5,200. Estimated cleared after 1 years 11 months.
What this means
The debt snowball method is built around momentum. It may not always save the most interest compared with targeting the highest APR first, but it can make progress feel clearer and easier to stick with.
How to use this result
Use the payoff order as a practical plan. Focus on the smallest balance first while keeping minimum payments going on the others.
Once the first debt is cleared, do not absorb that freed-up money into everyday spending. Roll it into the next debt to build momentum.
This calculator gives estimates only and does not provide financial advice.
FAQs
What is the debt snowball method?
It is a payoff method where you clear the smallest debt first, then roll that payment into the next smallest debt.
Is snowball better than avalanche?
Snowball is often better for motivation. Avalanche usually saves more interest because it targets the highest APR first.
Should I still make minimum payments?
Yes. The snowball method assumes minimum payments continue on all debts while extra money targets one debt at a time.