The debt snowball method pays off your smallest debt first, building momentum. Enter up to 5 debts below along with any extra monthly payment to see your payoff timeline.
What Is the Debt Snowball Method?
The debt snowball method, popularized by financial expert Dave Ramsey, focuses on paying off your smallest debt first regardless of interest rate. Once a debt is eliminated, you roll that payment into the next smallest, creating a “snowball” effect.
Frequently Asked Questions
Is the debt snowball or debt avalanche better?
The debt avalanche (highest interest first) saves more money mathematically. The snowball method provides faster psychological wins which helps many people stay motivated and debt-free.
How much extra should I pay each month?
Any extra amount helps accelerate payoff. Even an extra $50–$100 per month can shave years off your debt timeline and save hundreds in interest.