Take Control of Your Debt With These Free Tools
Several free online tools can help individuals create debt repayment plans tailored to their financial situations. These calculators vary in approach, offering strategies such as prioritizing high-interest debts or simulating the impact of increased monthly payments. While useful, they may not account for all personal financial circumstances or alternative debt relief options.
- ▪Bankrate's debt payoff calculator prioritizes paying off the highest-interest debt first and adjusts monthly payments as debts are cleared.
- ▪NerdWallet's debt load calculator assesses total debt relative to income and categorizes it as smaller, larger, or overwhelming.
- ▪WalletHub pulls real financial data when linked to user accounts and allows simulation of accelerated debt repayment.
- ▪Bankrate's tool assumes the highest-interest-first method is optimal, which may not suit everyone's financial goals.
- ▪NerdWallet's calculator lacks detailed input options for specific loan types like mortgages or student loans.
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Jill DuffyGearMay 17, 2026 6:30 AMTake Control of Your Debt With These Free Online ToolsThese free debt calculators help you set up payment plans to get back in the black.Photo-Illustration: WIRED Staff; Getty ImagesCommentLoaderSave StorySave this storyCommentLoaderSave StorySave this storyApps for budgeting and personal finance do a good job of tracking your money as you earn and spend it. Some also have excellent debt calculators that help you figure out how to pay off your debts.Each debt calculator is a little different.
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