#Pay it down calculator how to
#Pay it down calculator plus

This is consistent with messages on your credit card statement. Often, a down payment for a home is expressed as a percentage of the purchase price. The calculator will default the higher repayment to pay off the card within 2 years, unless the minimum repayment will pay the balance off in under 2 years. The additional repayments will reduce the credit card balance and reduce interest costs. Repaying a higher amount: If you repay a higher amount than the minimum repayment, this calculator assumes that amount stays the same each month.Adjust the minimum repayment percentage on this calculator to match the amount shown on your latest credit card statement.

The minimum repayment reduces each month as the card balance reduces. This is also called the principal amount it’s the total amount you wish to borrow from a lender. 3 key numbers you should consider are: - Loan amount. Minimum repayment (first month): Calculated using the card balance and the minimum repayment percentage you enter (or the minimum dollar amount, whichever is higher). This calculator can help you get an idea of what your monthly loan payments could be and how much interest you’ll pay over the life of the loan.You can find this on your credit card statement, or call your card provider for details. Refinance your existing mortgage to lower your monthly payments, pay off your loan sooner, or access cash for a large purchase. Interest rate: The annual interest rate on your credit card.

#Pay it down calculator plus

Your card balance: The closing balance on your last credit card statement, plus any money spent on your card, plus any interest and fees since the end of your last statement period.

Credit card fees: These are not included.

Additional spending: There is no additional spending on the card and no cash advances.

Pay It Down is a creative interactive tool that can be used by parents and educators to teach responsible money management.

#Pay it down calculator how to

Paying off existing debt is one of the best ways to save money, and seeing a graph that shows your debt going down is a great motivator. Salary Calculator - Convert Wage into Hourly, Monthly, Annual Income, Salary Calculator, Wage Calculator, How to Use This Salary Calculator, Earn Extra Money, More Annual Income, Wage Calculator, Earn Extra Money, You can earn extra money by starting a part-time business from home. In today’s economy, people are looking for more ways to be smart about money. Just record the basic information for each loan, and Pay It Down will calculate the total interest and monthly payment – critical factors in determining which loan offer is a better deal. Or, use Pay It Down to compare two or more different loan offers before deciding which to sign up for. Use the Additional Payment Settings to see how adding a small amount to your monthly payment can shave months or even years off of your debt repayment plan. Your returns may be higher in the long run. Use Pay It Down to determine the debt repayment time for a simple loan or credit card debt, or enter more information and Pay It Down will graph your total personal debt profile and calculate when you will be completely debt free. Consider paying off debt with a lump sump of money, whether it be a mortgage, auto loan or credit card debt. Pay It Down is an easy-to-use application that helps you calculate and visualize the best strategy for getting out of debt.