Debt Pay Down Calculator for a One-Time Payment Increase

Debt Pay Down Calculator Sign

This calculator will calculate the interest savings that will occur if you apply a one-time amount to paying down a given debt.

Plus, the debt pay-down calculations will also tell you how much sooner you will pay off the debt after applying the one-time principal payment.

Finally, the results include a comparison chart, a text summary, and an interest cost comparison bar graph.

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Debt Pay Down Calculator

Calculate savings from one-time debt pay down, in both months saved and interest saved.

Special Instructions

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Balance:Balance owed:Current balance owed:Current principal balance owed:

Current principal balance owed:

Enter the amount you still owe on the debt. Due to compounding interest, the amount you owe cannot be arrived at by simply multiplying your payment amount by the number of payments remaining. You may need to call your lender to find out the exact amount you owe.

Rate %:Interest rate %:Annual interest rate percent:Annual interest rate percentage:

Annual interest rate percentage:

Enter the annual interest rate percentage you are being charged for the debt, but without the percent sign (for .10 or 10%, enter 10).

Monthly pmt:Monthly payment:Current monthly payment amount:Current monthly payment amount:

Current monthly payment amount:

Enter the amount of your current monthly payment. Enter as a dollar amount, but without the dollar sign and any commas.

One-time amt:One-time amount:Amount to add to next payment:Amount to add to next payment:

Amount to add to next payment:

Enter the one-time amount you are considering adding to the next payment. Enter as a dollar amount, but without the dollar sign and any commas.

Debt Pay Down Comparison
# pmts# pmts# of payments# of payments:

Number of payments row:

This row compares the number of payments remaining with and without the one-time pay down amount.

CostCostInterest costInterest cost:

Total interest cost row:

This row compares the total interest cost with and without the one-time pay down amount.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Help and Tools


By buying assets during off-peak demand and selling during peak demand.

Unique Idea on Where You Might Drum Up Additional Cash

So where might you find the extra cash to apply to the pay-down of high-interest debt?

It Pays to Get Off Your Assets

Do you have any idle, non-appreciating assets that are doing nothing but collecting dust?

If so, why not convert them into cash (sell them) and apply that extra cash to pay down your highest interest debt? You'll be amazed at how even a small one-time principal payment can add up over time.

Once you pay off your debt, you might be able to buy back your sold assets with cash using your interest savings ... with money to spare!

Buy Low, Sell High (as in "price")

Of course, to get the most for your idle assets, be sure to sell them during their peak selling season (high demand).

In other words, sell boats and motorcycles in the spring, snowmobiles and skiing equipment in fall, and so on.

A friend of mine, Bruce M., actually makes a nice living buying used goods from desperate sellers in off-peak seasons (low demand), and then selling those goods to desperate buyers in the peak season (high demand).

Another friend of mine, Dennis N., makes a great living buying used appliances from apartment complexes and reselling them to individuals for 10-times what he pays for them.

I could go on, but I think you can see how the sky is the limit when it comes to turning assets (yours and others) into financial freedom -- especially if you use the proceeds for paying off your debts.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.