Estimate payoff time when snowballing debts smallest balance first.
Minimum payments are applied and extra money goes to the smallest balance, so the pool shrinks faster and the running time is estimated by the amortization formula. Quick wins on small balances keep motivation high, which for many people beats mathematically optimal but slower-feeling plans.
Debt Snowball
Payoff months = -ln(1 - rate x debt / payment) / monthly rate
Payoff months = -ln(1 - rate x debt / payment) / monthly rate Minimum payments are applied and extra money goes to the smallest balance, so the pool shrinks faster and the running time is estimated by the amortization formula.
Quick wins on small balances keep motivation high, which for many people beats mathematically optimal but slower-feeling plans.
This calculator takes 4 inputs: Total debt, Weighted APR, Monthly payment, Extra to first debt. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.