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Client Log InWhile we’d all love to believe we’re financially savvy, statistics, as well as the general state of the economy, suggest otherwise. Statistics indicate that only about 57% of Americans are considered financially literate. Even more disturbing, only about 24% of Millennials understand very basic financial concepts.
The good news is that there are plenty of free online resources you can use to help you succeed financially, even if you’re not a financial wiz.
Below, we’ll introduce you to some of our best debt calculators that can help you make informed financial decisions, break free from burdensome debt, and create a solid budget.
Roll Down Your Credit Card Debt Calculator
Our roll down your credit card debt calculator can help you prioritize paying off the credit card that has the highest interest rate first. This strategy is beneficial because it helps you save money in the long run. If you’re only making minimum payments on a high interest debt, then you could be double or triple paying for that original purchase.
Use this calculator if you have multiple debts that you’re struggling to prioritize.
Consolidate Your Personal Debt Calculator
This debt relief calculator can help you make an informed decision on whether debt consolidation is the right decision for you. This calculator lets you enter in all your debts and balances. Then, you can create a consolidated loan amount term with rates that fit your budget. This way, you can see a long-term view of what a new consolidation loan would look like, what payments would be expected from you, and more.
Mortgage APR Calculator
This mortgage APR calculator helps you identify the correct annual percentage rate for your mortgage, and it can assist you with generating a complete amortization schedule per month or per year. Using this tool, you’ll be empowered to make better decisions regarding your mortgage.
Federal Tax Calculator
If you own your own business or you get paid a significant amount each year, then it might be a good idea to utilize our federal tax calculator to get a handle on your taxes and what to expect. With just a few simple steps, you can estimate how much you’ll owe in taxes or whether you’ll likely be offered a refund.
Debt Consolidation Calculator
If you’re strapped with a ton of debt and you’re considering consolidating it, then you’ll want to check out this debt payoff calculator that can help you decide whether consolidation is right for you. This calculator will help you understand what your monthly payment would look like if you did decide to combine all your debts into one loan. You can play around with the loan types, terms, and interest rates to get a better idea of what type of loan would best fit your needs.
Credit Card Payoff Calculator
Credit cards can be extremely helpful when you find yourself in a financially difficult situation, but if you aren’t able to pay that credit card debt off quickly, then it can become a serious issue. You can use our credit card payoff calculator to help you figure out what it will take to meet your repayment goals. You can play around with the interest rates, balances, and repayment timeline to help you create the best debt repayment strategy possible.
Credit Card Optimizer Calculator
If you have multiple credit cards with different balances, interest rates, and terms, then you can benefit from using our credit card optimizer calculator. This calculator will help you understand how all of your credit card debt is impacting your overall financial situation. You’ll also be able to see what type of balance transfers and payment arrangements will benefit you the most.
Credit Card Minimum Payment Calculator
When you initially sign up for a credit card, it’s usually because you don’t have enough cash to fund a big purchase that you need to make right away. Unfortunately for most of us, our financial situations don’t improve in the future, which leaves us still needing to pay back our credit card debt while managing our day-to-day expenses as well. If you’ve found yourself in this type of situation, then you probably often only make the minimum due payments on your cards. Use this payment calculator to find out how your financial picture can shift if you start paying more than just the bare minimum.
The Cost of Debt Calculator
Do you know how much your debt is actually costing you over time? If not, then you should use this debt settlement calculator to find out. This cost of debt calculator will help you better understand how much of your money is going towards interest and how long it’s going to take you to pay off your debt.
Car Loan Calculator
If you’re questioning whether you can handle a car loan, then you’ll want to use this auto loan calculator to find out. You’ll be able to determine your likely monthly payment and purchase price of the car you’re looking for. This information can help you make a better decision regarding your future vehicle purchase.