Debt Payment Breakdown Calculator

Calculate the principal and interest breakdown of a debt payment to see how much of your hard earned money is going to pay for thin air.

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 balance owed:

Current balance owed:

Enter the amount you still owe on the debt, but without the dollar sign or any commas. Due to compounding interest, the balance 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:Annual interest rate:

Annual interest rate:

Enter the annual interest rate percentage you are being charged for the debt, but without the percent sign.

Pmt amt:Payment amount:Payment amount for current month:Payment amount for current month:

Payment amount for current month:

Enter the current payment amount, but without the dollar sign or any commas.

Principal:Principal portion:Principal portion:Principal portion:

Principal portion:

This how much of your current debt payment will be applied to the principal (reduction in how much you owe).

Interest:Interest portion:Interest portion:Interest portion:

Interest portion:

This is how much of your current debt payment will be kept by the lending institution.

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


How formulating an interest charge definition can keep you from buying on credit.

When you make a payment on one of your debts, a portion of your payment goes to your lender (interest portion), and the other portion is applied to your balance owed (principal portion).

Why is it important to know how much of your payment is going to one versus the other? Because one of the keys to getting out of debt and staying out of debt is to become painfully aware of how much your debt is costing you.

What Are Interest Charges Really?

Of course, the obvious answer is the fees that banks charge to lend you money.

Or, one could also define interest charges as money rental fees.

But here is how I like to define personal interest charges:

An interest charge is a fine for not being born into wealth, usually payable to someone who was.

Now don't get me wrong. I have nothing against the silver spoons of the world. Instead, my definition is simply one that keeps me from buying on credit (for a good visual watch the movie Matrix and view the machines as being corporate lenders).

I don't envy the silver spoons for their inherited mansions, private jets, and luxurious yachts, but I refuse to have their umbilical cords plugged into my wallet.

I encourage you to take some time to develop an interest charge definition that will keep you from buying on credit. Who knows, if you find one that keeps you from buying on credit, perhaps your descendants will be born into wealth.

Track Interest Separately

To accurately track your income and expenses, you should be recording the interest portion of your debt payments to Interest Expense, not to the purchased item's expense category.

In the case of credit cards, you expense the interest charges that are displayed on your monthly statement and then record each charge to their respective expense categories.

For loans (mortgage, auto, personal, etc.) you can use the debt payment calculator to calculate the principal and interest portions of each payment. The principal portion would reduce the amount you owe, and the rest would be recorded to interest expense.

If you continually record interest to its expense account, at the end of every month, you will be able to see how much of your hard earned money is being lost to interest. Most people would be shocked to learn how much of their hard earned income is going to pay the interest charges on their debts.

Pour Some Salt In Your Debt Wounds

If you are having trouble fighting the urge to buy on credit, here are four steps that might help.

1. Visit this calculator each time you make a payment on a debt.

2. When you make the payment, write two checks: one for the principal and one for the interest.

3. Visit the Future Value of Money Calculator and calculate the future value of the interest portion at your retirement age.

4. Using a red ink pen, write the forgone future value of the interest payment into the memo section of your checkbook register.

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.