Calculate What You are Really Paying on Your Debts

You know the interest rate you are paying on your credit card; it appears on every credit card statement.  (You do know the interest rate you are paying?  If you don’t, grab your last statement and look at it; this is an important number).

But do you really know what that rate means?  If your credit card interest rate is 20%, and you buy something for $100, and you pay it off in full one year from today, you actually paid $120 for that item.  That’s the power of interest!

What does your debt really cost you?  What will it cost to pay it off?  Try our free on-line debt calculator. It only takes 10 seconds to see what your debt costs, and to start exploring solutions.

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