Use our free Debt Snowball Calculator to get a accurate date of getting freedom from debts.

To understand snowball method deeply then visit to :https://smartdollarway.com/debt-snowball-method-guide/

𝐇𝐎𝐖 𝐓𝐎 𝐑𝐄𝐀𝐃 & 𝐔𝐒𝐄 𝐓𝐇𝐈𝐒 𝐂𝐀𝐋𝐂𝐔𝐋𝐀𝐓𝐎𝐑:

1.𝐃𝐄𝐁𝐓 𝐓𝐘𝐏𝐄

Select the type of debt like Credit Card, Medical Bill, Student Loan, or Car Loan. It helps you track which kind of debt you’re paying off.

2.𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐑𝐀𝐓𝐄 (%)

Enter the annual interest rate (e.g., 15%). This is used to calculate how much extra you’re paying monthly as interest.

3.𝐁𝐀𝐋𝐀𝐍𝐂𝐄

Fill in the remaining amount of the loan that you still need to pay. This is not the original loan but the current unpaid balance.

4.𝐌𝐈𝐍𝐈𝐌𝐔𝐌 𝐏𝐀𝐘𝐌𝐄𝐍𝐓

This is the least amount you must pay monthly to avoid penalties or late fees.

5.𝐀𝐂𝐂𝐎𝐔𝐍𝐓 𝐍𝐀𝐌𝐄 (𝐎𝐏𝐓𝐈𝐎𝐍𝐀𝐋)

You can give a name to your debt like “Axis Bank EMI” or leave it blank. It’s just for your clarity.

6.𝐀𝐃𝐃 𝐃𝐄𝐁𝐓

Once all fields are filled, press “Add Debt” to include that loan in the calculator. Repeat for every debt you have.

7.𝐇𝐎𝐔𝐒𝐄𝐇𝐎𝐋𝐃 𝐈𝐍𝐂𝐎𝐌𝐄

Enter your Monthly Income, and the Annual Income will be calculated automatically. This gives you a full picture of how much you earn vs. how much you owe.

8.𝐀𝐃𝐃𝐈𝐓𝐈𝐎𝐍𝐀𝐋 𝐏𝐀𝐘𝐌𝐄𝐍𝐓

Enter any extra money you want to pay each month (besides the minimums). This is the core power of the Debt Snowball Method — it helps clear debts faster with momentum.

𝐄𝐍𝐓𝐄𝐑 𝐘𝐎𝐔𝐑 𝐃𝐄𝐁𝐓 𝐃𝐄𝐓𝐀𝐈𝐋𝐒 & 𝐂𝐋𝐈𝐂𝐊 “𝐂𝐀𝐋𝐂𝐔𝐋𝐀𝐓𝐄” 𝐓𝐎 𝐒𝐄𝐄 𝐇𝐎𝐖 𝐒𝐎𝐎𝐍 𝐘𝐎𝐔 𝐂𝐀𝐍 𝐁𝐄 𝐃𝐄𝐁𝐓-𝐅𝐑𝐄𝐄 𝐖𝐈𝐓𝐇 𝐓𝐇𝐄 𝐒𝐍𝐎𝐖𝐁𝐀𝐋𝐋 𝐌𝐄𝐓𝐇𝐎𝐃.