GuidesDebt1 min
Total paid versus the balance
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This guide
Total paid is the balance plus the interest. The gap between them is the cost of paying on that schedule.
The three figures
The balance is what you owe today. Total interest is what the payment plan adds. Total paid is both. A short plan on a low rate keeps total paid close to the balance.
A minimum that stretches for years does the opposite. The interest figure is the reason the date looks expensive even when the monthly amount looks small.
Extra changes both
Adding an extra payment, split by the minimums, usually cuts interest and shortens the longest date. The debt total in the household month goes up by the extra, because you are paying more now.
The screen’s comparison is how you see that trade without leaving the form.
It is not a credit score
Nothing here reports utilization or a score. A lower balance helps those products in real life. This page only prices the payoff.
The account save stores the rows. It does not store a bureau report.
This explains how WiseCalculator treats the numbers you type. It is not a lender’s offer and it is not advice for your loan.
More in Debt
- Why a high rate still needs its minimumEvery row keeps its minimum. The extra is shared. A high rate does not automatically receive the whole extra.
- Adding a second cardEach card is a row. The debt total becomes the sum of the minimums, and any extra is shared across all of them.
- Removing a paid-off debtSet the balance to zero or delete the row. A zero balance leaves the month. Deleting the row removes it from the form.