Build a debt snowball plan
Enter each current balance, APR and monthly minimum from your statements. Set an extra amount that fits your budget. The model reserves all minimum payments first, then directs the remaining monthly budget to the smallest starting balance. Once an account is repaid, its available payment moves to the next account in the same month.
The schedule shows estimated payments, interest and remaining balances. The payoff order is a priority list; another account can close earlier through its minimum payments. Compare avalanche to see the effect of targeting higher rates. Actual lender terms take priority over this simplified model.
Frequently asked questions
How does the snowball method work?
Pay the entered minimum on every active debt, then direct the rest of a fixed monthly budget to the smallest starting balance. Freed payments roll to the next debt.
What does the minimum-only comparison assume?
Each debt keeps its entered minimum payment until repaid. Payments stop when an account closes; nothing rolls over. Actual lender minimums may change.
Why might my statement show different interest?
This estimate uses APR divided by 12, charged before each monthly payment. Daily interest, fees, promotional rates and lender rounding are excluded.