In my last year, I racked up a significant amount of debt. Medical expenses, unemployment, and let’s be honest… depression spending, have put me $46,000 in the hole. I had two existing personal loans in addition to this (yes, I know, this is bad). I created this repayment calculator to help myself stay on track and get out of credit card debt this calendar year.

My monthly income is roughly:

$8,000 per month, post-tax for my salaried job
$500-800 per month for our Airbnb bedroom rental (my portion)
$300 per month on our Cripple Creek rental home (my portion - total $2,200 rent on a $1,700 mortgage).

My Debts Overview

  
      Creditor
      Balance
      Interest Rate
      Monthly Payment
    

  
      Chase
      $12,900
      29.99%
      Flexible (target for payoff)
    

      Citi 1
      $10,000
      21%
      Flexible
    

      Citi 2 (0%)
      $9,000
      0%
      Minimum ($150)
    

      ENT
      $14,000
      10%
      Flexible
    

      Discover Personal Loan
      $5,381.97
      15%
      $560
    

      USAA Personal Loan
      $14,278.70
      9%
      $534
    

      USAA Auto Loan
      $43,260.92
      5.6%
      $937
    

      Payment to Mom
      —
      —
      $650
    

This is what my repayment plan looks like:

Debt Repayment Calendar & Chart

Choose Strategy:

Debt Repayment Calculator

Monthly Income ($):

Total Monthly Fixed Expenses ($):

Emergency Fund Allocation ($/month):

Repayment Method:

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Enter Debts:

What have I done to cut expenses?

Changed all of our insurance policies and switched to Progressive from USAA. This saves us roughly $500 per month, or $6,000 over the course of the year.