Guide · 10 tools
Loans and debt
Monthly payments, true APR and total cost for personal, car and student loans; the fastest way out of credit-card debt; and whether consolidating, transferring or overpaying actually saves money.
Debt is expensive in ways that monthly payments hide. These calculators show the total interest behind every payment, compare the routes out of card debt, and test whether a lower payment is a saving or just a longer term.
The student loan tool covers US income-driven plans, UK Plans 2 and 5, Canada RAP and Australian HELP; the rest work in any currency.
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Taking a loan
What a loan costs a month and in total, and how lenders compare.
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Cars
Financing, leasing and the 20/4/10 rule.
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Cards and short-term credit
Interest that compounds monthly, and the ways to stop it.
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Getting out of debt
Snowball vs avalanche, consolidation and the ratio lenders watch.
Common questions
Loans and debt: the questions people ask
- Snowball or avalanche: which pays off debt faster?
- Avalanche (highest rate first) always costs less in interest; snowball (smallest balance first) clears individual debts sooner, which many people find easier to stick to. The debt payoff calculator shows both side by side.
- Does debt consolidation save money?
- Only when the new rate is lower and the term is not much longer. A longer term lowers the payment while raising the total interest; the consolidation calculator shows both figures.
- What is a good debt-to-income ratio?
- Under 36% including housing is comfortable for most lenders; US mortgage lenders generally cap it near 43%. UK and Australian lenders model spending and stress rates instead.
Results are estimates based on the figures entered, for general information only, and not financial, investment, tax or legal advice.