8 Essential Resources for Debt Payoff Techniques and Calculators
- Save Minty (this site): This is a comprehensive platform that offers a wealth of resources to help you plan your finances and manage your debt effectively. They even have a free tool called Debt Planner that helps you model your debt repayment using popular methods like the Snowball and Avalanche method.
- Forbes Credit Card Pay-Off Calculator: Forbes' Pay-Off Calculator is an excellent resource that can help you plan your credit card debt repayment. By simply entering your current balance, interest rate, and monthly payment, it provides you with a clear timeline of when you can expect to be debt-free.
- NerdWallet’s Guide to Pay Off Debt: NerdWallet offers a comprehensive guide on how to pay off your debt. It covers everything from creating a budget, analyzing your debt, to increasing income and staying committed to your debt payoff journey.
- Credit Karma’s Debt Repayment Calculator: This calculator is a great tool to visualize how different payment strategies can affect your debt over time. It can help you decide which debts to prioritize and how much to pay each month.
- CNN Business Credit Card Payoff Calculator: CNN’s calculator can help you figure out how long it will take to pay off your credit card debt based on your current balance, interest rate, and monthly payments.
- Schwab’s Credit Card Payoff Calculator: This calculator by Schwab is another handy tool that lets you determine the best payment strategy for your credit card debt. It provides a clear overview of how much interest you’ll pay and when you’ll be debt-free.
- CNBC’s Guide on How to Calculate Debt-to-Income Ratio: Understanding your debt-to-income ratio is crucial in managing your debts. CNBC’s guide provides step-by-step instructions on how to calculate this ratio and what it means for your financial health.
- Tally’s Credit Card Debt Payoff Calculator: Tally’s calculator can help you understand how long it will take to pay off your credit card debt under different scenarios. You can adjust your monthly payment amount to see how it affects your payoff timeline.
