Your go-to resource for financial wellbeing

Debt payoff planner

A debt payoff planner is a simple plan that lists every debt you owe and sets the order to pay them off in. It tells you which debt gets your extra money first, while you keep paying the minimum on everything else, until each one is cleared.

By Mohit Juneja | 25 August 2026

Personal Finance

For a standard fixed-rate loan with equal monthly instalments, every bank uses the same underlying formula: EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1]. Some lenders structure products differently, flat-rate pricing, variable rates, or irregular instalments, so this formula applies specifically to standard reducing-balance loans. The amount stays the same each month, but what it actually pays off, interest versus principal, changes every single month.

By Mohit Juneja | 25 August 2026

Personal Finance

Financial counseling is a professional reviewing your full financial picture, income, debts, and spending, and helping you decide the right next step. A budget app shows you data. A budget app can show your numbers, but it generally cannot replace personalised advice about which debt strategy fits your specific circumstances.

By Mohit Juneja | 24 August 2026