Fixed Extra Payment Calculator
See how a consistent extra payment accelerates your debt freedom.
Your debt
Enter the debt you want to pay off faster
Your fixed extra payment
How much extra will you commit to every single month?
This amount is added to your minimum payment every month
Time saved
Interest saved
New payoff time
Minimum only
With fixed extra
Timeline comparison
You'll be debt-free sooner!
The power of consistency
Automate it
Set up automatic payments so you never miss a month
Lock in the amount
Even if your minimum decreases, keep paying the same total
Resist lifestyle creep
Got a raise? Increase your fixed extra, not your spending
Why fixed extra payments work
A fixed extra payment is a commitment to pay the same amount above your minimum every single month. Unlike variable extra payments, this approach builds a habit and provides predictable results.
The math is simple
- Every extra dollar goes directly to principal
- Less principal = less interest = faster payoff
- The effect compounds over time
Finding your fixed extra amount
Look at your budget and find an amount you can commit to every single month. It's better to pick a sustainable amount than an aggressive one you'll abandon.
- $25/month — One less restaurant meal
- $50/month — Cancel a subscription or two
- $100/month — Brown bag lunches for a week
- $200/month — Serious commitment, serious results