Crush Your Debt Faster

Understanding your debt is the first step to eliminating it. Use this interactive tool to visualize your path to financial freedom and get a specific payment plan.

1. Monthly Budget

We need this to calculate your extra payment power.

Monthly Net Income (£)

Monthly Expenses (£)

Available Cash Flow: £1,100

2. Your Debts

List all your current debts.

Type

Balance (£)

APR (%)

Min Pay (£)

No debts added yet.

Your Freedom Plan

Adjust the sliders to see how extra payments impact your timeline.

Monthly Extra Payment towards Debt £0

£0 £1,100 (Max Available)

Debt Free Date

—

— months faster

Interest Saved

£0

vs. paying minimums

Total Payoff Cost

£0

Principal + Interest

Next Month’s Payment Plan

Based on your selected strategy, here is exactly how much you should pay towards each debt next month.

Debt	Balance	Min Pay	+ Extra Allocation	Suggested Payment

Balance Timeline

Where Your Money Goes

Paying off debt aggressively minimizes the orange “Interest” slice.

Understanding Your Debt Strategy

1 Snowball vs. Avalanche

The calculator supports two main strategies:

Avalanche (Math Choice): Pay highest interest rate first. Saves the most money over time.
Snowball (Psychology Choice): Pay smallest balance first. Builds momentum with quick wins.

2 Good Debt vs. Bad Debt

Not all debt is equal. Bad debt (Credit cards, high-interest personal loans) drains wealth and should be attacked aggressively. Good debt (some student loans) often has lower rates and can help build assets.

3 The DTI Ratio

Your Debt-to-Income (DTI) ratio is crucial. Lenders prefer a DTI below 36%. If your debt payments exceed 40-50% of your income, consider consolidation or speaking with a credit counselor.