Your plan to become debt-free
List what you owe and see exactly when you'll be debt-free, how much interest you'll pay, and which debt to tackle first.
You'll be debt-free by
-
Add at least one debt to start.
- Total you owe
- -
- Paying each month
- -
- Interest you'll pay
- -
Which approach is better for you?
| Debt-free | Interest | First win |
|---|
The power of paying extra
Is your debt manageable?
Staying on track
- When a debt is paid off, move its payment to the next debt. Don't let it disappear into everyday spending.
- Stop using store cards and credit cards while you pay them off, or the plan won't work.
- Ask for a paid-up letter when you settle each account, and check your credit report a few months later.
- Struggling to make the minimums? Speak to a registered debt counsellor before you miss payments.
Get your free debt-free plan
A PDF with your debt-free date, the order to pay your debts, and a step-by-step plan you can tick off as each debt is cleared. No sign-up needed.
Disclaimer
This planner is a free educational tool from Let's Talk Money. The results are estimates to help you plan and are not financial advice.
- Interest is calculated monthly at the rates you enter, which are assumed to stay the same. Minimum payments are also treated as fixed, although on many cards they fall as your balance falls.
- Monthly fees and credit life insurance on your accounts are not included unless you add them to the minimum payment.
- Your information stays on your device. Nothing you type here is sent to or stored by Let's Talk Money.
If you can't keep up with your repayments, a registered debt counsellor can help. You can find one through the National Credit Regulator (www.ncr.org.za, 0860 627 627). Let's Talk Money does not sell financial products and accepts no liability for decisions made using this tool.
Join free to unlock our full programmes, audiobooks and workbooks, and get a certificate when you finish.