Multiple Debt Calculator
The full debt picture: combined balance, weighted average rate and total minimum payments.
Multiple debts are easier to tackle when you see them as one system: the combined balance, the weighted interest rate you effectively pay, and the total minimum payments leaving your account each month.
At a glance
- What you enter
- Debt 1 balance, Debt 1 rate, Debt 1 minimum, Debt 2 balance, Debt 2 rate, Debt 2 minimum, Debt 3 balance, Debt 3 rate, Debt 3 minimum
- What you get
- Total debt, Weighted average rate, Total minimum payments per month
- Formula shown
- Yes — every step, right below your results.
- Cost and privacy
- Free, no account needed, and nothing you type is stored.
See worked examples ↓ Read the FAQ ↓ Share this calculator ↓
Results are estimates for general information only — always verify with a professional or official source before acting on them.
How to use the Multiple Debt Calculator
- 1 Enter Debt 1 balance
- 2 Enter Debt 1 rate
- 3 Enter Debt 1 minimum
- 4 Enter Debt 2 balance
- 5 Enter Debt 2 rate
- 6 Enter Debt 2 minimum
- 7 Enter Debt 3 balance
- 8 Enter Debt 3 rate
- 9 Enter Debt 3 minimum
- 10 Press Calculate. You get Total debt, Weighted average rate, Total minimum payments per month, and every intermediate step stays visible under “How is this calculated?”
- 11 Change one number at a time to see what moves the result — that is usually the most useful thing a calculator can tell you.
Worked examples
Real numbers run through this calculator. Open any example to load it into the form above and change it.
A card, a personal loan and a car loan
A typical three-debt mix: $2,000 at 24%, $6,000 at 15% and $12,000 at 7%.
You enter
- Debt 1 balance
- $2,000.00
- Debt 1 rate
- 24%
- Debt 1 minimum
- $60.00
- Debt 2 balance
- $6,000.00
- Debt 2 rate
- 15%
- Debt 2 minimum
- $150.00
- Debt 3 balance
- $12,000.00
- Debt 3 rate
- 7%
- Debt 3 minimum
- $220.00
You get
- Total debt
- $20,000.00
- Weighted average rate
- 11.1%
- Total minimum payments per month
- $430.00
Total debt is $20,000 at a weighted average rate of 11.1%, with $430 of minimum payments every month. The 24% card is only a tenth of the balance, but it is the expensive money — and the cheapest $12,000 is what pulls the average down to 11.1%.
One expensive balance among cheaper ones
$4,500 at 29%, $3,000 at 9% and $8,000 at 4%.
You enter
- Debt 1 balance
- $4,500.00
- Debt 1 rate
- 29%
- Debt 1 minimum
- $110.00
- Debt 2 balance
- $3,000.00
- Debt 2 rate
- 9%
- Debt 2 minimum
- $70.00
- Debt 3 balance
- $8,000.00
- Debt 3 rate
- 4%
- Debt 3 minimum
- $160.00
You get
- Total debt
- $15,500.00
- Weighted average rate
- 12.2%
- Total minimum payments per month
- $340.00
This $15,500 of debt has a weighted average rate of 12.2% and $340 of monthly minimums. The 29% balance is under a third of the total, yet it lifts the average above every other rate in the list — a good reason to check the avalanche order rather than pay the largest balance first.
Guides that go with it
How to Get Out of Debt: A Step-by-Step Guide for Beginners
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How to Save Money for a Big Purchase Without Going Into Debt
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The 50/30/20 Budget Rule Explained: Is It Right for You?
The 50/30/20 rule says you should spend about 50% of your take-home pay on needs, 30% on wants, and 20% on savings and debt payoff. That's the whole idea. It's simple enough to remember without an app…
Frequently asked questions
Why use a weighted average rate instead of averaging the three rates?
A plain average treats a $500 balance and a $15,000 balance as equally important. Weighting each rate by its share of the total shows what your combined debt actually costs on average, which is the number that matters when you are deciding how urgent the whole situation is. Bear in mind that no single debt charges exactly that rate — it is a summary of the mix, not a rate you could be offered.
Which rate matters when I pay extra?
The rate on the balance you are attacking — usually the highest one, because that is the money costing you most per dollar owed. The weighted rate describes the portfolio; the marginal rate describes your next payment. Once you know both, use the Debt Avalanche Calculator to order the debts by rate, or the Debt Snowball Calculator if you would rather clear small balances first.
What do the total minimum payments tell me?
They are the amount your debts demand each month before you make any progress at all — the floor under your budget, and the sum that has to leave your account even in a bad month. Whatever you can pay above that total is your attack budget. Remember these are today’s minimums: percentage-based ones shrink as the balances fall, so the total is not a fixed commitment for the life of the debts.
Should I consolidate these debts into one loan?
Consolidation is worth examining when the new rate is clearly below your weighted average and the term is not stretched so far that you pay more interest in total — a longer loan at a lower rate can still cost more. Fees, and the risk of running the freed-up cards back up, are the usual ways it goes wrong. Take the real quotes and terms to a free debt service or an independent adviser before signing anything.
Terms used here
Short, plain-language definitions of the words this calculator uses.