Crown Financial Ministries offers a free online debt snowball calculator on its website, Crown.org. SVT Software offers the free and highly rated Debt Payoff Assistant app for iPads and iPhones through iTunes.
Debtors enter all their debts in the snowball calculator and begin to pay them off from smallest to largest. When users pay off the smallest debt, the payment for that bill rolls over to the next largest debt, creating a snowball effect that helps people pay off their debts faster. The calculator from Crown Financial Ministries shows how much interest is saved by using the debt snowball method.