There are quite a few debt snowball calculators online. Many of them are fairly basic. The following is a quick review of a few of them.
The first debt snowball calculator comes from What’s the Cost. This calculator allows you to enter all of your information on your credit cards. It takes into account your current interest rate and any promotional interest rates on your cards. You can also select which debt snowball method that you’d prefer. You can even log in and save your debt snowballs.
Result The calculator says that we can be debt free by December 2007. Yay!
The second snowball calculator comes from Creditshack.org. This one is much more basic than the one at What’s the Cost. You can choose the number of cards that you want to enter, but that’s about the amount of choice that you have. This debt snowball calculator uses the balance method in paying off the debt snowball.
Result The calculator says that we can be debt free by December 2007. Though I can’t really imagine that any of these would be different.
The final debt snowball calculator that we will take a look at is over at CNN Money. This is a basic calculator with alot of little details. It doesn’t let you choose which debt snowball method that you would like to use, but it does a wonderful job of displaying all the necessary information.
Result The calculator says that we can be debt free by December 2007. Same as the rest.