IN PLAIN ENGLISH
Your monthly outgoings on debt, added up from what you told us you pay.
FULL DEFINITION
What you pay each month across your debts, from the payment entered for each — a mortgage's is worked out from its terms.
EXAMPLE
A mortgage that works out at £1,050 a month plus a car loan you pay £250 a month on: 1,050 + 250 = £1,300.
HOW IT'S CALCULATED
Payments / mo = Σ the monthly payment of each debt that has one. A mortgage's is worked out from its balance, interest rate, years left and repayment type (see Mortgage Monthly Payment); any other debt's is the amount you entered, never worked out for you. A debt with no payment is left out and counted in a note, so the total can be lower than what you really pay.
Educational content only. It is not personal financial advice.