The Finance Algorithm
§ Tool · tier 1 · independent

Variable Income Loan Planner.

Plan personal loan repayments around irregular freelance or casual income

CalculatorFree, no signupOn-deviceupd May 2026
Inputs
Your numbers
$
$5k

Your typical monthly income (average over past year)

$
$2k

Income in your worst month last year

$
$9k

Income in your best month last year

$
$3k

Fixed costs you must pay each month

$
$15k

How much you want to borrow

%
12%

Rate available for your situation

3

How long to repay the loan

Math updates live as you change inputs · AI runs on submit

Awaiting inputs

Move the sliders or type in the form on the left — the math updates live as you go. Click Get AI verdict when you want a written analysis.

Freelancer? Contractor? Casual worker? When your income changes month to month, planning loan repayments requires extra care. This calculator helps you find a safe repayment amount based on your income fluctuations.

§ Worked examples

Real-world scenarios

Freelance Designer

Alex earns $3,000-$8,000/month (average $5,500) with $2,800 in fixed expenses. Wants $12,000 for equipment.

Inputs

avg:5,500low:3,000high:8,000expenses:2,800

Safe repayment: $200-$300/month (based on low month leaving buffer). Over 4 years at 11%, that's $13,200 total.

Casual Hospitality Worker

Sam's hours vary: $2,500-$5,000/month (average $3,800), $2,000 fixed expenses. Needs $8,000.

Inputs

avg:3,800low:2,500high:5,000expenses:2,000

Safe repayment: max $350/month. In low months ($500 after expenses), this leaves only $150 buffer - risky. Consider borrowing less.

§ FAQ

Questions Australians ask

§ Glossary

Plain-English definitions

Income Volatility
The degree to which your income fluctuates month to month. Higher volatility = more conservative borrowing needed.
Buffer Payments
Extra payments made during high-income months that can be redrawn during low months.
Redraw Facility
Ability to withdraw extra payments you've made back from the loan if needed.