Tool I How to pay off your debt faster

Minimum payments can keep debt around for years and increase the total interest you pay.

For example, adding R500 a month to your payment could help you clear the debt sooner and save thousands of rands in interest, depending on your balance and interest rate.

Add your debt balance, interest rate and minimum monthly payment. The tool will show you how different payment amounts could change your repayment timeline and total interest.

The tool gives you a clear view of:

• How long it could take to clear your debt
• How much interest you could pay
• What happens when you add R500 or R1,000 each month
• How a custom extra payment changes your timeline
• How much interest each option could save you

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Tools that might be helpful:

Debt Freedom Tool - shows what your debt costs, the best repayment strategy, and your debt-free date

Debt repayments email course: take control of your debt in 4 days

Debt Repayment Strategies workbook - a practical tool to build a system that works for you

Other resources to explore:

Debt review in South Africa: what it means and how it works

How do I check my credit score for free in South Africa?

What does “blacklisted” really mean in South Africa?

Is it okay to handle debt on your own without telling your partner?

How to get a good credit score in South Africa and why it matters

Should I use my savings to pay off my credit card debt, or continue saving?

Is it bad to only pay the minimum on my credit card?

Snowball vs avalanche: Choosing a debt repayment strategy that fits your personality

Why we fall into debt: the most common causes and how to spot the early signs