Introducing the Debt Calculator

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It's free, it's private, it's easy, and it could save you thousands of dollars. What are you waiting for?

What does it do?

The Debt Calculator is a tool to help you budget and plan the best way to pay off your debts.

More specifically, it’s a simulation that rapidly runs through each month, paying off your debts until you’re all paid off. It’ll give you a date and the total interest paid, so you can see how changing your budget slightly can save you a lot of money in the long run.

It also provides a detailed output of how much it paid on each debt each month, so you can see how it chose to pay off the debt and watch the balances disappear over time.

The Debt Calculator isn’t perfect; in some cases it may be an over-simplification. It will, however, help guide you in making a reasonable budget for freeing yourself from debt, and a fairly accurate estimate of how long it will take. For many people, just seeing that final date somehow makes it seem more achievable.

Tips and tricks

You can select different payment strategies in the Options section. “Highest Interest” is selected by default, as in our experience that is always the best strategy. If you don’t believe us, feel free to try it yourself. (Manually-set payment order is coming soon.)

If you're entering your mortgage as a debt, make sure you separate any PMI or escrow payments into the Expenses section.

To save you time, your input settings are stored when you click the Calculate button. They are stored on YOUR computer in your browser’s local storage (courtesy of AmplifyJS). Your personal information isn’t stored on our server anywhere.

About Us

Once upon a time, there was a young married couple with some debt. He was a programmer, she was in accounting. They wanted to be all paid off but they couldn’t decide on the best way to do it. So, pretty much in one weekend, they worked out a simple program to test their ideas. It worked. It worked so well in fact, that they decided to share it with the world.

We’re providing this completely free of charge, in the hopes that it helps others become all paid off. We ask for nothing in return, but if you really want to help, we’d be happy to accept your donations for site maintenance or your ideas on how we can make the site better.