Create my debt snowball

One payoff plan for multiple debts

My plan name

Total I'm paying each month

My debts

Include Name Amt Owed Min Pymt Int Rate Next Due Pymts

Debts are paid off in the order they are listed. Only debts with Yes in the Include column are added to your snowball.


Add a debt


The amount I owe now

My minimum payment

Interest rate (APR)


For credit cards enter highest rate on last statement

My next payment is due

Year Month Day

debt snowball

Debt Snowball Help

A debt snowball accelerates the paying off of multiple debts, including credit cards, by using the "rollover" method. As soon as one debt is paid off, the freed-up payment amount from that debt is used to help pay down the next debt even faster. The process continues until all debts are paid off. The debt snowball is the most cost effective, fastest, and emotionally satisfying way to get completely out of debt.

The Create my debt snowball page simplifies creating a snowball payoff plan. You provide current information on all of your debts and configure how you want the snowball schedule structured. When you click on the Calculate button, the program does the rest. You get a comprehensive plan that you can follow to debt freedom as fast as possible within the limits of your financial situation and goals.

1. Build a complete list of your debts

For each debt, click on the Add a debt button to display the Add A Debt window. Fill in the fields and select the date when the next payment is due. Click on the OK button. The new debt is added to the bottom of the list. The number of payments it will take to pay off the debt is listed in the Pymts column.

When the information for a debt cannot be used to calculate the number of remaining payments, No is displayed in the Include column and Error is shown in the Pymts column.

To change the information for a listed debt, click on Edit button on that debt's row to display the Edit A Debt window. Make the needed changes and click on the OK button.

To remove a listed debt, click on the Del button on that debt's row.

2. Configure your snowball

A debt is included in your snowball when the button in the Include column shows "Yes." To exclude a debt from your snowball, click the Yes button to change the label to "No." Clicking on a No button resets the button to "Yes."

Debts will be paid off in your snowball in the order they are listed. Use the Up and Down buttons to reorder the list. After each change in the list order, click on the Calculate Snowball to see your snowball with the new sequence.

3. Generate your snowball

Enter a name for your plan and the total amount you want to pay for the duration of your debt snowball. This amount must be at least the Total min pmt shown on the bottom row of the list of debts. Increasing the amount you will be paying each month is how you shorten the time it will take for you to be debt free.

Click on the Calculate Snowball button. Your snowball is dislayed below the buttons. You can make changes to your list of debts as well as the total amount you will be paying each month and recalculate your snowball until you have a debt snowball that works best for you.

4. Print your snowball

When you have a debt snowball that works best for you, print the plan to help keep you on track. Click on the Printer Friendly Version button. After the page has refreshed, use the print feature of your browser to print the page.

Do another?

To enter a new list of debts, click on the Clear button.