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Debt Freedom Hub

The fastest path out of debt depends on your interest rates, balances, and psychology. Find your strategy, then run the numbers.

20%+
Credit card rate
Typical AU credit card interest rate — a guaranteed 20% return when you pay it off
7.5 yrs
Min payments only
How long a $5k credit card debt takes at minimum payments
$2,800
Interest on $5k debt
Total interest at 20% if you only pay the minimum monthly
Two strategies — which is right for you?
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Avalanche Method
Pay minimum on all debts. Attack the highest interest rate first. Mathematically optimal — saves the most money. Best for disciplined people who don't need quick wins.
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Snowball Method
Pay minimum on all debts. Attack the smallest balance first. Not mathematically optimal but provides psychological wins. Better for people who need motivation.
Use the Debt Race calculator to compare both strategies with your actual debts
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Debt Race — Avalanche vs Snowball
Add all your debts, set your monthly budget. See avalanche vs snowball side by side — exact payoff date, total interest saved, and which wins for your specific situation.
→ Best starting point
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Credit Card Payoff
Focus on one credit card. Enter balance, rate, and what you can pay monthly. See your exact payoff date, total interest, and what happens if you boost payments.
→ Single card focus
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Debt Consolidation Calculator
Add every debt you carry, enter the consolidation offer you're considering, get an honest verdict — including a warning if the new rate is actually worse than your current blended rate. Not a sales pitch.
→ Is consolidation worth it?
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Student Loan Payoff
HECS-HELP repayment timeline, threshold calculations, and what voluntary repayments actually do to your balance. Understand when yours will be gone.
→ HECS & student debt
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Tax Payment Planner New
You owe the ATO — should you pay in full, on a payment plan, sell stocks, or take a loan? Compares all four with the real 11.36% GIC rate and CGT modelling.
→ Which way to pay
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BAS Savings Countdown New
Live countdown to your next BAS due date. Enter what you'll owe and it shows exactly how much to set aside every day, week, or fortnight — with an interactive tracker.
→ For sole traders
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Loan EMI Calculator
Monthly repayment, total interest, and amortisation schedule for any loan — personal, car, or otherwise. Change the rate or term to see the impact instantly.
→ Any loan
Avalanche or snowball — which is actually better?
Mathematically, avalanche (highest rate first) always saves more money. But research shows snowball (smallest balance first) leads to higher debt-freedom rates because quick wins maintain motivation. If you're disciplined, use avalanche. If you've started and stopped debt payoff plans before, use snowball. The best method is the one you actually stick to.
Should I invest while paying off debt?
Depends on the interest rate. High-interest debt (credit cards at 18–22%) — pay off first, always. It's a guaranteed 20% return. Medium debt (personal loans 8–12%) — consider investing in super via salary sacrifice while paying minimum on debt, since super contributions are tax-advantaged. Low-rate debt (HECS, some mortgages below 6%) — investing in index funds makes mathematical sense, though personal preference matters.
Does debt consolidation actually help?
Only if three things are true: the new rate is genuinely lower, you don't extend the term so long that total interest exceeds what you'd pay separately, and you cut up the cards so you can't accumulate more debt. Many people consolidate, feel relief, and then run the cards back up — ending up with both the consolidation loan AND new card debt. The calculator shows the math, but the discipline comes from you.