Author
Who builds DebtPathway
I'm Mike Mulik. I built this calculator and I maintain it.
I've been designing things since my first job. Websites, apps, digital experiences, mostly working out how to make something complicated feel simpler for the person using it. That's been the work in one shape or another the whole way through.
It's worth being precise about what that does and doesn't make me.
What it does. A good chunk of that work has been on financial products, trying to make them clearer and easier to use. Some of it was the customer facing side, the things people log into and read. Some of it was the other side of the counter, the tools used by the people working at the bank. Seeing both is useful, because a lot of what makes money confusing isn't anybody being sneaky. It's just how the information ends up getting built and passed along.
I also wrote the math in this calculator myself, and I'll show you exactly how it works.
What it doesn't. I am not a financial advisor, financial planner, accountant, credit counsellor, or insolvency trustee. I hold no licence or certification in any of those fields. Nothing on this site is financial advice, and I have no way of knowing your situation. If you're making a decision that matters, whether that's consolidating, settling, or considering insolvency, talk to someone qualified. In Canada that's a Licensed Insolvency Trustee, or LIT, or a nonprofit credit counselling agency. In the United States, an agency accredited by the National Foundation for Credit Counseling, or NFCC. First consultations are normally free.
Why I built this
Most things I make come from the same place. I run into something in my own life that I find hard to understand or hard to keep track of, and I want to see if I can make it simpler.
This one started with my son. I was trying to explain credit cards to him, how the debt actually works, what happens if you only pay a little bit each month, and partway through I realised I wasn't explaining it well. Not because he wasn't following. Because the way this stuff normally gets presented is hard to follow.
So I wanted something that answers the obvious questions first. What happens to my debt. How long until it's gone. Which one should I deal with first. You should be able to see that straight away, and actually see it, not read a wall of text about it.
Then if you want to know why the numbers behave the way they do, that should be there too, one layer down. Out of your way until you go looking for it.
That's the whole idea. Simple on top, the reasons underneath.
The rest of it is just that I like building things.
How I keep it honest
- The math is published. The method and assumptions page shows the formula the calculator uses, a worked example you can check by hand, and every assumption baked in.
- The math is tested. The payoff engine has an automated test suite that runs on every build. One of those tests checks a single fixed payment loan against the standard closed-form amortization formula, and the worked example on the method page reproduces to the penny.
- Rates are cited, not guessed. Every default APR, which stands for annual percentage rate, comes from a named primary source: the Federal Reserve G.19 Consumer Credit report, Bankrate's surveys, Experian and Edmunds, Federal Student Aid. See average debt interest rates for the figure, the range, and the source behind each one.
- Nothing you type is collected. The calculator runs entirely in your browser. Your balances never reach a server, and there's no account to make.
- No rankings, no recommendations. I don't rank, review, or recommend specific lenders, cards, or financial products. This isn't a comparison site, and the editorial policy sets out where the line is.
- Corrections. If a number or an explanation is wrong, email hello@doublem.ca and I'll check the source and fix it. Corrections get noted on the page with a date.