Debt Snowball Calculator
See how many months it takes to clear several debts when you pay the smallest balance first with one fixed monthly amount.
Enter your numbers
Example: 20000
Example: 50000
Example: 100000
Example: 12
Example: 12000
Recent
Formula
How the calculation works
The calculator sorts the debts from smallest to largest and adds the monthly interest to every open balance each month.
It then throws the whole fixed monthly payment at the smallest balance, and once that is cleared the same payment moves to the next smallest.
The simulation repeats until every balance reaches zero, counting the months, the interest charged and the order in which the debts disappear.
Common mistakes
- Splitting the fixed payment across all debts, which slows the first payoff and removes the motivation the snowball method relies on.
- Forgetting the monthly interest, since a balance that only gets its interest paid never actually shrinks.
When to use it
- Households with several loans use it to see how quickly a single fixed payment clears the smallest debt and then the rest.
- Budget planners use it to compare the snowball method against paying the highest interest debt first.
Worked example
With debts of 20000, 50000 and 100000 taka, a 12 percent annual rate and a fixed 12000 taka monthly payment, the smallest is cleared first and the full set is paid off in 16 months with 14244 taka of interest and 184244 taka paid in total.
Common questions
Why start with the smallest debt?
Clearing the smallest balance first gives a quick win that keeps you motivated, even though paying the highest interest debt first usually saves more money.
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