Don’t Sweat Over Debt: An Easy Way to Calculate How Much You Owe

Thursday, 5 November 2015

Trying to calculate your debt is never an easy or enjoyable task and not keeping an eye out on your personal finances might leave you with overwhelming levels of debt.

For this reason, it’s a good idea to always watch out for how much you are spending and furthermore, to set a weekly or monthly budget to keep control of your finances.

To help you with this, NatWest have created the Debt Calculator to help you in working out exactly how much debt you owe. This useful tool helps you to keep on top of your spending habits by breaking down your current debt into more manageable sums.


The debt calculator works by firstly collating all of your existing debt, for example from credit cards and overdrafts, to work out exactly how much you owe. From there, you can set how much you can afford to pay back either weekly or monthly, or set the date you would like to be debt-free by. The calculator will then show you the amount of money you will need to pay back within a given time frame according to the criteria selected.

Following the debt calculator guidelines is a good starting point to help you visualise your debt, as several manageable repayments as opposed to one daunting lump sum. Understanding what you owe and when you owe it, can lead you one step closer to tackling your debt successfully. 

Once you know what repayments you need to make, prioritising your debts is the next step to becoming debt free. Ensure payments with the highest interest rates are tackled first to avoid mounting debt and avoid missing any payments as this could lead to damaging your credit score or forfeiting any promotional rates offered by your card, leaving you worse off in the long run.


There are many efficient ways to handle your debt such as understanding how much you owe, prioritising debts and even budgeting. Facing up to your debt might prove difficult at first but by staying organised and not letting things get on top of you, you’ll be able to tackle your debts one step at a time.

For more help and advice visit PayPlan.