Your debts
Enter each debt separately. Use the balance from your latest statement, the APR from your agreement, and your current minimum monthly payment. For mortgages or debts on a fixed/promotional rate, click the clock icon on the row to set the current rate, when it ends, and the follow-on APR - the simulation will switch rates automatically.
Payoff strategy
Use the arrows to set which debt you want to attack first. Minimums on all others are paid automatically.
Two controls per debt: Include puts the debt in the strategy (untick to leave a mortgage out of the simulation entirely so it doesn't drag your debt-free date out 25 years). Extra says your extra monthly payment is allowed to attack this one - untick for fixed-term loans where overpaying doesn't help.
Total debt
£0
Add your debts above to get started.
Debt-free date
-
Total interest
£0
Monthly mins
£0
Months to free
0
Heads-up
Strategy comparison
avalanche vs snowballBoth strategies pay the same total each month. The difference is which debt gets the extra attack first.
Extra payment impact
How much sooner - and cheaper - could you be debt-free? All rows use the same strategy as above.
| Extra / month | Debt-free date | Total interest | Months saved | Interest saved |
|---|
Payoff timeline
Each bar shows how long until that debt is cleared. Shorter is better - watch them shrink as you add extra payments above.
Payoff order
| # | Debt | Type | Balance | APR | Clears | Interest paid |
|---|