Current payments
Pay each required minimum and do not redirect a cleared payment. This is the reference point for time and interest.
- Debt free in
- 36 months
- Interest paid
- MUR 34,708.64
- Total repaid
- MUR 174,708.64
- Interest saved
- MUR 0.00
Make room for your next financial move.
How this planning tool works
Work out what you can afford, then plan a purchase or find a way to pay down debt.
Go beyond the monthly repayment. Add interest, the time you’ll keep it, and everyday costs to build a clearer picture of your purchase.
Start with a simple monthly budget. Open the guide and worked example.
What would you like to work on?
What will it really cost to own?
Choose a payoff plan you can keep.
The current-payment plan keeps paying each minimum separately. The snowball method sends extra money to the smallest balance first; the highest-interest-first method, also called the avalanche method, sends it to the most expensive debt. Once a debt is cleared, both methods roll that payment into the next target.
These are sample debts, not your financial information. Replace the figures with your balances and annual rates. Set an unused debt’s balance to zero. Results update as you edit.
1 · List what you owe
Your debts
Enter each balance, annual interest rate and required monthly payment. The example is illustrative; replace it with your own figures.
Check unused subscriptions before deciding how much extra you can repay. Read statements and review subscriptions (opens in a new tab)
Where does your salary go?
Enter your monthly take-home pay and expenses to see how much goes to debt and what remains.
Track income and spending for 2–3 months before setting a realistic budget. Explore budgeting tools and the tracking method
Your pay after tax and other payroll deductions, before the debt payments listed below.
Essentials such as rent, groceries, utilities and transport. Exclude debt repayments.
Other spending and monthly provisions for irregular costs. Exclude debt repayments.
Enter a salary above zero and complete your expenses and debt entries to see the breakdown.
- General expenses
- MUR 0.00
- Additional expenses
- MUR 0.00
- Monthly debt payments
- MUR 5,300.00
- Remaining after expenses and debt
- —
Monthly debt payments are the sum of the required monthly payments for active balances in Your debts below. The debt gauge uses this amount only, before extra repayments. The remaining amount is then split below. Check hire-purchase rates and payments against your contract.
Do not treat allowances, overtime or bonuses that could stop as guaranteed base salary. Check whether you could still pay without them, even if a lender counts them.
Job loss does not stop loan repayments, bills or the need to eat. Keep an emergency reserve that includes debts until income resumes; finding another job may take longer than expected.
Split what is left each month
Available money is your salary minus general expenses, additional expenses and the monthly payments in Your debts. It is automatically split: 50% for extra repayment, 30% for savings and 20% for an emergency buffer.
Available after expenses and minimum payments: —
Extra debt repayment
—
—
Savings
—
—
Emergency buffer
—
—
2 · Set a manageable budget
Your automatic repayment budget
Your extra payment is calculated from the automatic split above. Savings and the emergency buffer remain separate. Change your income, expenses or required debt payments to update the plan.
Available after expenses and minimum payments: —
Calculated automatically as 50% of the amount left after expenses and required monthly debt payments. It is an additional repayment, separate from the debt payments entered in Your debts. If your budget is incomplete or has a shortfall, no extra payment is applied.
Choose your repayment approach
Keep paying every required minimum. Direct any remaining budget to the smallest outstanding balance first. This builds momentum as individual debts are cleared, although it may cost more interest than highest-interest-first repayment.
- Monthly repayment budget
- MUR 5,300.00
- First priority for extra payments
- Hire purchase
- Estimated time to clear all debts
- 33 months
Priority order for extra payments, not necessarily the order debts finish. Required minimums can clear a smaller debt sooner. Month 1 includes interest and caps each payment at the amount owed.
- Hire purchase
Annual rate: 5% · Required monthly payment: MUR 1,000.00
- Pay in month 1
- MUR 1,000.00
- Estimated payoff from now
- 27 months
- Credit card
Annual rate: 24% · Required monthly payment: MUR 1,800.00
- Pay in month 1
- MUR 1,800.00
- Estimated payoff from now
- 32 months
- Personal loan
Annual rate: 14% · Required monthly payment: MUR 2,500.00
- Pay in month 1
- MUR 2,500.00
- Estimated payoff from now
- 33 months
What to do as each debt is clearedKeep the same total monthly budget. Roll each freed payment into the smallest debt still outstanding, while maintaining the other minimums. Update these figures when your rates, balances or required payments change.
How this plan is calculated
This is an educational projection, not a lender payment schedule. It assumes fixed annual rates, monthly interest at annual rate ÷ 12, interest rounded to cents, payments at month-end, unchanged required minimum amounts and no fees, new borrowing or early-repayment charges. Debts with zero starting balances do not contribute a payment to the budget. Actual lender terms, arrears and secured-debt obligations may change what you should pay first. Savings are shown only when both compared plans fully repay the debts.
3 · Compare your options
The cost of each approach
All three options use your entered minimums. Snowball and avalanche also use the extra monthly amount and roll freed payments forward.
Snowball
Put extra money toward the smallest balance first. Quick wins can make the plan easier to maintain.
- Debt free in
- 33 months
- Interest paid
- MUR 34,196.92
- Total repaid
- MUR 174,196.92
- Interest saved
- MUR 511.72
Highest interest first
Put extra money toward the highest-rate debt first. This usually minimises interest when rates are known and you stay on plan.
- Debt free in
- 33 months
- Interest paid
- MUR 34,196.92
- Total repaid
- MUR 174,196.92
- Interest saved
- MUR 511.72
This illustration assumes no new borrowing, no fees or rate changes, and monthly reducing-balance interest. Actual lender rules can change the result. Keep a small emergency buffer and contact your lender early if payments are becoming difficult.
What to take away Paying the highest-rate debt first usually reduces interest most. Paying the smallest balance first can help you see progress sooner. Both approaches keep paying the other minimums. Choose a budget you can maintain, not just the fastest result.