Managing your debt can be overwhelming, but ignoring it won’t make it go away. If you’re in debt up to your ears, it’s time to start thinking about how to pay it off. A debt calculator can help you figure out how much you really owe and the best way to get rid of your debt.
Credit card debt calculator
There are various types of calculators that you can use, according to the kind of debt you have. A credit card debt calculator is for those with mainly credit card debt. To use it, simply enter the balance and interest rate. To calculate how long it will take you to pay it off, enter either the amount you’re paying on it per month or the desired number of months until you want to be debt-free.
The true cost of a loan
The true amount of a loan isn’t always clear. Before you sign on the dotted line, use this loan calculator to figure out the real cost. Enter the loan amount, the interest rate, the length of years to get your monthly payment and how much you’ll spend long-term.
Mortgage debt calculator
Because of amortization, figuring debt from a mortgage can be a little difficult. Fortunately, a mortgage calculator can do the heavy lifting for you. The mortgage debt calculator can help you figure out monthly payments and will allow you to enter extra payments that show the effect of paying principal early.