Use this free debt calculator to find out how long it will take you to pay off your bills or click here to get a FREE debt reduction plan now.
How To Use A Debt Calculator
This great tool could have a great impact on your finances by allowing you to see where you are and where you need to be to get back on track with your money.
Gather your most recent bills or statements for each of the loans you would like to pay off. Be sure to include credit cards, car loans, boat loans, home equity loans, home improvement loans, etc. On your bill or statement, locate the area that shows your interest rate, current balance, and minimum monthly payment. You will need this information to use the debt calculator.
Learn how much interest, money, and extra time you can save with our debt calculator. You can also change your budget and calculate your plan using any fixed payment of your choice.
Another thing you can do is enter when you would like to see your credit card bills paid off and the debt calculator will tell you what amount you need to pay in order to achieve that goal.
To make sure you stay on track with your budget, try this. Get a pre-paid debit card with a certain amount on it and use it and not your checking or savings account when you make entertainment or luxury purchases. These purchases should include eating out at restaurants, going to the movies, and window shopping that turns into actual shopping. Once the funds on this card have been depleted, do not make anymore non-essential purchases. Use the money in your checking account for bills only and the money in your savings accounts is for saving only. You may be surprised at how much cash you will save by keeping strict parameters around your budget and spending.
As a final tip, make sure to always use a debt calculator to help you along the way or simply click here to get a FREE debt reduction plan now.