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Debt Snowball Payoff Calculator

Months to clear a single debt with extra payment.

Estimate how many months it takes to clear one debt under the snowball strategy when you add a fixed extra amount on top of the minimum payment, and how much interest you save.

Nadia Almasri By Nadia Almasri
Published Last reviewed 1 min read

Inputs

$
%
$
$

Results

Enter values and click Calculate to see results.
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How to use this calculator

  1. Fill in the inputs above using the units you already have.
  2. Values update automatically as you type — no submit button needed.
  3. Hover any result row for the underlying formula and intermediate values.

Formula

Months = −log(1 − r·B / P) / log(1 + r), where r is the monthly rate, B the balance, and P the total monthly payment (minimum + extra).

In depth

Estimate how many months it takes to clear one debt under the snowball strategy when you add a fixed extra amount on top of the minimum payment, and how much interest you save.