Debt payoff planner

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Enter your debts below — credit cards, personal loans, store accounts, anything — and the planner works out your payoff date, total interest and the optimal payoff order using the snowball (lowest balance first) or avalanche (highest interest first) method.

Your debts

Debt name Balance (₦) Rate (%) Min payment (₦)
R

Why debt strategy matters for your Money OS

High debt pressure is one of the heaviest drags on the Rateweb Financial Health Score (18% weight) and the overall OS Index. Every rand paid toward interest is a rand not going toward emergency funds, goals or net worth growth. The planner helps you see the real cost of delay and the power of extra payments.

In the Health Score, lowering your debt-service ratio (minimum payments as % of income) directly improves the Debt pressure factor. In the composite OS Index it also lifts the glance component because lower debt improves net-worth trajectory and frees cash for savings momentum.

South African households carrying revolving credit at 20–25%+ APR often find that even modest extra payments (R500–R1,000 above minimum) can shave years off the payoff date and save tens of thousands in interest. The avalanche method usually saves the most money mathematically; the snowball method can feel more motivating because you see quick wins on small balances. Both are valid — choose the one you will stick with.

SA context 2026

Many consumers are juggling store cards, personal loans and credit cards. The National Credit Act provides some protections, but high-cost short-term credit still exists. Using a structured plan (and tracking it in your dashboard) turns debt repayment from a source of stress into measurable OS progress. Your OS Index rewards consistency — log each extra payment or paid-off account as a win.

Snowball vs Avalanche: which is better?

Both methods work by focusing any extra money you have on one debt at a time, then rolling the freed-up payment onto the next. The difference is in which debt you target first.

Avalanche targets your highest-interest debt first. Mathematically this saves you the most money in total interest — often thousands of rand. This is almost always the better choice if you can stick to it.

Snowball targets your smallest balance first. You clear debts faster (even if they're low-interest), which gives you quick psychological wins and momentum. Research shows some people stick to this method better, which means it can outperform avalanche in practice — even if not on paper.

The right method is whichever one keeps you committed. Use the planner above to compare both and see the difference for your situation.

How to use this planner

  1. List every debt you carry: credit cards, personal loans, store accounts, hire purchase.
  2. Enter the current balance, interest rate (APR or "prime plus" rate) and the minimum payment your lender requires.
  3. Add any extra amount you could put toward debt each month — even R200 makes a significant difference.
  4. Compare Avalanche vs Snowball to see which saves you more interest and whether the timeline differs.
  5. Commit to a method and automate the payments — that's where the plan succeeds or fails.