Use the Side Hustle to Debt Calculator
Making extra money is one thing, but I want to know what that money can actually do to my debt. Use the Side Hustle to Debt Calculator to see how putting some of your extra income toward debt could change your payoff timeline and how much interest you could potentially save.
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Side Hustle to Debt Calculator
You've got something extra coming in. This shows you what that extra money is actually worth in time, not just dollars.
Your side hustle could buy back
0 months
Without side hustle
—
With side hustle
—
Additional debt payment
$0/mo
Interest saved
$0
Time saved
0 months
Annual amount to debt
$0
What if I earned...
These scenarios assume 100% of that income goes to debt, regardless of the percentage you set above.
| Monthly income | Payoff time | Months saved | Interest saved |
|---|
Okay, but what does this actually mean?
A plain-English walkthrough of your own numbers.
Your numbers stay on this page. This calculator runs in your browser and does not save or send your financial information.
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Words this tool uses (translated)
Here's what everything means, and where to find it if you don't already have it.
Avalanche method
The way this tool decides where your side hustle money goes when you have more than one debt listed. It pays the minimum on everything, then throws every extra dollar at whichever debt has the highest interest rate. Once that one's paid off, its whole payment rolls into attacking the next-highest-rate debt. This order saves you the most money in interest overall.
Where to find yours: nothing to look up, this is just the strategy the calculator uses automatically once you've added more than one debt.
APR
Short for annual percentage rate. It's the yearly cost of carrying a balance, shown as a percentage. A 24% APR means that, roughly, for every $100 you owe, you'd be charged about $24 a year in interest if the balance never moved.
Where to find yours: log into your credit card or loan account online and look for "interest rate" or "APR" on the account summary page. It's also printed on paper statements, usually near the balance.
Amortization
The process of paying off a loan through regular payments, where each payment covers that month's interest first and whatever's left over chips away at what you actually owe (the principal). This tool runs that math month by month instead of guessing.
Where to find yours: nowhere, this one's not a number you look up. It's the method this calculator uses behind the scenes.
Principal
The actual amount you owe, not counting interest. This is the number that has to hit zero for the debt to be paid off.
Where to find yours: your current statement or account dashboard, usually labeled "balance" or "current balance."
Payoff timeline
An estimate of how many months it would take to bring your balance to $0 at a given payment amount, assuming your APR and payment stay the same the whole time.
Where to find yours: right here, this is one of the results this calculator gives you.
Interest saved
The difference between how much interest you'd pay on the slower timeline versus the faster one. This is money that never has to leave your pocket in the first place.
Where to find yours: also a result from this calculator, comparing your baseline payment to your payment with side hustle income added.
Percentage to debt
How much of your side hustle income you're choosing to put toward this debt, versus keeping for other things like bills, savings, or just having breathing room. 100% means every dollar goes to debt. 50% means half does.
Where to find yours: this is a personal choice, not something to look up. Slide it to whatever feels realistic for your life right now.
Dealing with income change on top of debt?
The Layoff Survival Toolkit gives you one calm place to organize bills, deadlines, financial runway, and next steps, so nothing falls through the cracks while you're figuring out extra income.
Get the Layoff Survival ToolkitRelated from AshleyJane
What to Do After Getting Laid Off: Your First 7 Days — A day-by-day plan for the first week after a layoff, from someone who's lived it.
This calculator is for educational and planning purposes only and is not financial advice. Results are estimates and may differ from your actual payoff timeline, interest charges or account terms.
