How it works
Every debt accrues monthly interest at annual interest rate / 12, rounded to cents. Your entered minimums are fixed amounts, not lender minimum-payment formulas. The total monthly budget is the sum of original minimums plus extra. Each month pays all remaining minimums first, then directs all available money to the lowest remaining balance (snowball) or highest rate (highest-interest-first). Freed payments roll over immediately; ties follow row order. No new borrowing, fees, penalties, teaser-rate changes or missed payments. Some balances can grow if their minimum does not cover interest. Plans that do not complete within 100 years are rejected.
The formulaMonthly budget = sum of starting minimums + extra. Interest = current balance × annual interest rate ÷ 12. Pay minimums, allocate remaining budget in strategy order, then repeat.
Good to know
Are these personalized financial recommendations?
No. These are arithmetic planning tools with editable hypothetical assumptions. Actual account terms, taxes, fees, cash flows and lender statements can differ.
Where do my numbers go?
Calculation inputs stay in this page. The finance tools do not place them in links, make calculation requests or save them automatically. CSV and print exports are created only when you choose them. Existing site delivery and performance services still operate; see Privacy.
Which currency and rounding do you use?
Choose a display currency and enter every amount in that same currency. No exchange conversion is performed. These tools use two-decimal money displays. Loan and debt schedules round monthly interest and balances to cents; savings models keep internal precision. Values are bounded to keep calculations reliable.