Jira & Confluence 
Bitrix24 Debt payoff · snowball · Excel
Debt snowball calculator — compare payoff methods month by month
Short answer. Enter balances, APRs, minimums, and a monthly extra. Snowball: direct the extra to the smallest balance while paying every other minimum (CFPB).
- Update the plan from your latest statementstype the date
Check your own case.
This is an organization reminder and does not change creditor due dates.
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Your debt plan
Compare snowball and avalanche with your numbers
Try three debts here, then use the Excel workbook for up to ten. The schedule estimates months, interest, and remaining balance without promising a payoff date.
- Copy each balance, APR, and minimum from the latest statement.
- Pay every required minimum, direct the extra by your chosen method, and avoid new charges.
- If minimums are unaffordable, contact creditors early and use trustworthy help; avoid debt-relief guarantees.
Educational estimate, not advice or a payoff promise. Variable rates, fees, rounding, late payments, and new charges change the result.
Lida, Layers template assistant
Share balance, APR, minimum, and extra payment for up to three debts; I will compare both methods.
Open or download the full ten-debt payoff workbook below.
Deadlines
The rules, with the source
| What | Deadline | Source |
|---|---|---|
| Snowball | direct the extra to the smallest balance while paying every other minimum | CFPB |
| Avalanche | direct the extra to the highest APR while paying every other minimum | CFPB |
| Monthly interest | previous balance times annual percentage rate divided by twelve | estimate |
| Payment budget | required minimums plus the extra amount available each month | user input |
| Estimated payoff month | the first calculated month with no balance inside the schedule horizon | estimate |
Neither method is best for everyone. Avalanche often reduces interest; snowball may make progress easier to sustain. Variable rates, fees, rounding, late payments, and new charges change the result.
Step by step
What to do, in order
1
Copy current figures
Use each balance, APR, and minimum from the latest statement.
2
Choose a priority
Compare smallest balance and highest APR while keeping every required minimum.
3
Review monthly
Update balances and payments; if minimums are unaffordable, contact creditors early and avoid debt-relief guarantees.
Questions
Is the calculator free?
Yes. You can use it and download the Excel workbook without paying or signing up.
What is the difference between snowball and avalanche?
Snowball targets the smallest balance; avalanche targets the highest APR.
Is the debt-free month guaranteed?
No. It is an estimate based on the numbers entered and assumes no unexpected changes.
How many debts can the workbook track?
The Excel file supports up to ten accounts and compares both methods.
What if I cannot make every minimum?
Contact creditors early and look for trustworthy help; be cautious of advance fees and guarantees to erase debt.
Official sources
Other documents
Keep the papers in one place
Letters, receipts and notices in one folder you can share with family or a lawyer. The templates and the editor are free; Layers is free for up to 20 people.
Educational estimate, not financial advice or a payoff promise. Review actual statements and agreements.