Loan repayment and savings goal planner
By The Income Tracker · Updated 16 June 2026
The short answerSee how long your loan takes to clear and what the interest costs. Then watch what happens when you point that same monthly payment at savings. Same money, two very different jobs.
Debt first, then savings
For most people the order is simple. Clear high-interest debt before you chase savings, because the interest you stop paying almost always beats the interest you could earn. Once the loan is gone, the payment does not disappear. Redirect it.
How to read the result
- Months to clear: how long until the loan hits zero at your current payment.
- Interest cost: the extra you pay on top of the balance. Bigger payments shrink it.
- Then save up to: keep the same payment going and see how quickly it builds your next goal.
Frequently asked questions
- How long will it take to pay off my loan?
- It depends on the balance, the APR and your monthly payment. Enter them above for an exact number of months and the total interest.
- Should I pay off debt or save first?
- Usually clear high-interest debt first, since the interest you save beats most savings rates. Then redirect that payment into savings.
- Is this planner free?
- Yes, free, and it runs entirely in your browser.
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