Debt Calculator
Debt Calculator
Model your future, today
Quick and easy
Do you have debts that you need to pay off? Creating a repayment plan is a step in the right direction, but it's important you know how much you can afford to repay and how soon you will have repaid it.
Made for you
The debt calculator allows you to model repaying a debt in a specific timeframe or repaying a set amount.
Smart investment
Starting repayments now could help you be debt free sooner - the longer you take to repay the money, the higher the amount of interest you will need to repay too.
Current and compliant
Even small repayments could make a difference to your future!
Deal with debt
I want to know...
Please choose your goal to start.
Repayments are not large enough to pay off debt.
Total debt
(XX,XXX.XX / day)Total interest
Debt free in
Expected payment
Please choose your goal to start.
Repayments are not large enough to pay off debt.
Total debt
(XX,XXX.XX / day)Total interest
Debt free in
Expected payment
| Year | Payments | Interest | Balance |
|---|---|---|---|
| Repayments are not large enough to pay off debt. |
How can we help you?
Now that you've seen how you could repay your debt, it's time to take action!
- A Personal Budget can help get a clear picture of money coming in and money going out. Being able to pay off debt is easier if we understand our cash flow. Positive cash flow means that we are not living beyond our means. It allows us to save for the future and better manage debt repayments.
- Still not sure how you can afford to start repaying? Why not try the Small Change, Big Savings calculator and see how giving up just a few everyday items could free up some finances to begin your repayment journey.
We all have money leaks in our day to day. The key is to identify them and bring them under control. Make the choice to redirect your money leaks to paying off debts and you will soon feel more in control of your financial future.
Disclaimer & Assumptions
Disclaimer
The results shown by the calculator are for illustrative purposes only and do not guarantee any future outcome. The calculator makes certain assumptions about how interest is calculated and how it is applied to a debt product. Your actual debt repayment may differ from the estimated figures shown. Assumptions include the following:
- Your first debt payment begins the first day of the next month.
- Interest is compounded at the same frequency as the repayments. For example, interest is compounded monthly if the debt is repaid on a monthly basis.
For any loan you are considering, you should find out how the interest you will owe is calculated. For example, the more frequently interest is compounded, the higher the annual interest rate, resulting in a higher cost of debt over time.
Any choices you make or data that you enter while using the calculator are erased once you have finished using the calculator. However, you have a responsibility to ensure that you exit the website when you are finished with the calculator, especially if you leave your computer for any length of time.
The calculator should be used in conjunction with other available communications and not as the sole source of information when making decisions about your personal finances.
You may wish to seek independent financial advice before making any personal finance decisions.
