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Debt Snowball Calculator Australia: Pay Off Credit Cards, BNPL and Loans Faster

When you've got a credit card, a buy now pay later plan or two and a personal loan, it's hard to know where to put extra money. A debt snowball calculator answers that by putting every debt in order and showing how long each will take to clear if you pay the minimums plus a fixed extra amount each fortnight.

Snowball vs avalanche

Snowball: pay minimums on everything, then put every extra dollar on the smallest balance. When it's paid off, roll that payment into the next smallest. You get quick wins, which keeps many people motivated.

Avalanche: same idea, but target the highest interest rate first. This usually saves the most interest overall.

Neither is wrong. If motivation is your biggest challenge, snowball. If the numbers are what drive you, avalanche. Some people do a hybrid: clear one tiny debt first for a win, then switch to avalanche.

List every debt

For each debt, record the balance, interest rate, minimum repayment and due date. Include BNPL plans: they may not charge interest, but missed payments can bring fees, and they still take a slice of every pay.

Find your extra payment

Look at your fortnightly budget and find an amount you can commit every payday, even a small one. Consistency matters more than size. As each debt is paid off, its repayment rolls into the next, so your payoff speed grows.

Free help is available

If your debts feel unmanageable, the National Debt Helpline (1800 007 007) offers free, confidential financial counselling in Australia. The government's Moneysmart website also has free tools and guides on paying off debt.

Avoid adding new debt

A payoff plan only works if new debt stops. Pause the cards you're paying off, remove saved cards from shopping sites, and keep a small emergency buffer so a surprise bill doesn't go straight back on credit.

Worked example

Here's a worked example with made-up numbers. Jess has four debts: a BNPL plan with $280 left, a store card with $1,100 at 25% interest, a credit card with $4,200 at 20%, and a car loan with $9,000 at 9%. Her minimums total about $460 a fortnight, and she finds an extra $120 a fortnight by cancelling two subscriptions and cutting takeaway. With the snowball method she puts the extra $120 on the BNPL plan and clears it within about two paydays. That frees up its repayment, so she now throws more at the store card. Each time a debt is cleared, the freed repayment rolls into the next, and her fortnightly attack payment keeps growing. With the avalanche method, she'd hit the store card first because it has the highest rate, which in this case is also small, so the two methods give similar results. A calculator shows the exact payoff dates for each order before she commits.

How to do it: step by step

1. List every debt with balance, interest rate, minimum repayment and due date.
2. Choose snowball (smallest first) or avalanche (highest interest first).
3. Set a fixed extra amount you can pay every fortnight.
4. Pay minimums on all debts and the extra on the target debt.
5. When one is cleared, roll its payment into the next.

Frequently asked questions

General information only, not financial or tax advice.