MoneyRestartDEBT PLANNING
Compare your debt payoff options
A useful plan starts with your balances, interest rates and required payments. MoneyRestart lets you compare three approaches using the same household information.
Open the free debt payoff plannerWant to explore first? Use Try sample data in the planner. The example is labelled and does not change your saved plan.
Three approaches to compare
Interest-first directs extra payments toward the highest modeled interest rate while required payments continue on other debts.
Cash-flow-first prioritizes a debt estimated to release a required monthly payment sooner.
Balanced weighs interest pressure and smaller balances. It is a comparison strategy, not a guarantee of the best outcome for every household.
Have your statements ready
- Current balances, APRs and required monthly payments.
- Promotional expiry dates and the rate after each promotion.
- Monthly take-home income, housing and essential expenses.
- Any one-time cash or recurring extra payment you can afford.
Choose Canada or the United States and enter every amount in that currency. Switching currency labels does not convert balances.
Read the assumptions alongside the result
Payoff estimates use monthly interest at APR divided by 12, fixed entered payments and no new charges. Actual fees, changing minimum payments, lender compounding and future variable-rate changes can alter the outcome.
Download or print the household summary to review your entries. Confirm important figures against your statements before making a decision.
Explore independent debt resources