What does this tool do?
The snowball method targets the smallest balance, then applies its freed-up payment to the next one. It often costs a little more interest than the avalanche method but delivers quicker account closures.
The Formula
Each month: pay minimums, then send the extra to the smallest balanceFrequently Asked Questions
Does snowball always cost more than avalanche?
Usually, because it may leave a higher-rate balance running longer. The gap depends on the rate and size differences between accounts.
How do I keep momentum after the first payoff?
Keep the total payment the same and redirect the cleared minimum plus the extra to the next smallest balance.