Loans & Debt
Debt Consolidation
See whether rolling several balances into one loan actually saves you money.
Your numbers
New monthly payment
$524.45
- Payoff time after consolidating
- 60 months
- Interest on the new loan
- $7,067
- Interest if you keep paying as-is
- $11,779
- You save
- $4,312
A lower payment often means a longer term, which can cost more overall. Consolidating only helps if you stop adding new balances.
Debt Consolidation explained simply
Instead of five little bills going five different places, you take one loan and pay them all off, then you owe just one payment. This checks whether that actually saves money or just moves it around.
For example
$24,000 spread across cards at 20% could cost you $12,000 in interest. Roll it into a 5 year loan at 10% and the interest drops to about $6,500.
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Want a second set of eyes on these numbers?
These calculators are estimates for planning purposes and don't account for every detail of your situation. Bring your results to us and we'll pressure-test them against your actual tax picture.
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