Monthly budget
See how much of your monthly income remains after living costs. Compare that remainder with the amount you want to save.
Understand the numbers · Make life easier
Compare debt repayment order
Compare repaying smaller balances first with repaying higher-interest debts first. Enter each debt on a separate line, using amounts in one currency.
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Time to repay with highest interest first
25months
Both repayment orders use the same monthly budget. Once a debt is cleared, its old payment goes toward other debts.
Months with smallest balance first25 months
Interest with smallest balance first16,205 TWD
Interest with highest interest first14,505.82 TWD
Fixed total monthly budget6,000 TWD
Each debt's interest rate is fixed; monthly rate = annual rate ÷ 12. Each month accrues interest, pays each minimum, then allocates the remainder by balance or interest order. Minimum payments on cleared debts remain in the total budget for other debts. Fees, penalties and variable minimum-payment rules are excluded. Calculation is refused if any minimum does not cover monthly interest. Simulates up to 1,200 months; this is not a financial institution's statement.
Method and scope
Each month interest is added at annual rate divided by 12, followed by minimum payments and allocation of remaining budget in the selected strategy. A cleared debt's minimum stays in the total budget and moves to other debts.
Compare completion time and total interest under the two orders. Paying one account off does not reduce the assumed total monthly budget.
At most 20 debts and 1,200 simulated months are supported; a minimum below monthly interest is rejected. Fees, penalties, changing rates and changing lender minimum-payment rules are excluded, so this is not a statement from your lender.
References:OpenStax: algebra and applications
What this helps you do
Compare repaying smaller balances first with repaying higher-interest debts first. Enter each debt on a separate line, using amounts in one currency.
What to enter
Start with debts: principal, annual rate %, monthly minimum, then fill the other relevant fields in the units shown. The field hints explain the required format and examples.
How the calculation works
Each month interest is added at annual rate divided by 12, followed by minimum payments and allocation of remaining budget in the selected strategy. A cleared debt's minimum stays in the total budget and moves to other debts.
Worked example
Enter 100000,12,3000 for TWD 100,000 principal, 12% annual interest and a TWD 3,000 minimum. With 0% interest and TWD 10,000 total monthly payments, that balance alone clears in ten months.
Understanding the answer
Compare completion time and total interest under the two orders. Paying one account off does not reduce the assumed total monthly budget.
Scope and limitations
At most 20 debts and 1,200 simulated months are supported; a minimum below monthly interest is rejected. Fees, penalties, changing rates and changing lender minimum-payment rules are excluded, so this is not a statement from your lender.