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The Debt Destroyer
The Momentum of the Debt Snowball
The Debt Snowball method isn’t about math; it’s about behavior. By attacking your smallest balances first, you build psychological momentum that makes becoming debt-free unstoppable. Use this calculator to organize your debts, simulate the “Snowball Effect,” and visualize exactly when you will cross the finish line.
The Debt Snowball method focuses on momentum by prioritizing debts with the lowest balances first, regardless of interest rate. This strategy aims to provide psychological wins by quickly eliminating smaller accounts. Conversely, the Debt Avalanche method prioritizes debts with the highest interest rates first. While the Snowball method often improves adherence to the plan through behavioral reinforcement, the Avalanche method is mathematically faster and results in less total interest paid over the life of the debt. This tool utilizes a dynamic allocation logic. Once a "Monthly Budget" is set that exceeds the minimum payments required, the surplus is automatically applied to the priority debt (either the lowest balance or highest interest rate). As each debt is paid in full, the entire payment amount from that closed account is "rolled over" into the next target debt. This compounding payment effect is what accelerates the payoff timeline shown in the stacked bar chart. This calculator is designed for the "payoff" phase rather than the "refinancing" phase. It assumes the user is paying down existing balances under current terms. For users seeking to restructure their debt entirely—such as consolidating high-interest credit cards into a single lower-rate loan—this would require a different financial product. Users looking to analyze housing debt specifically should refer to the Mortgage Amortization tool.