Debt payoff calculator

Zo gebruik je de Debt payoff calculator

Wat het berekent en wanneer je het gebruikt

Compares the snowball en avalanche methods across several debts, showing your debt-free Datum, Rente Betaald en the Volgorde in which debts are cleared.

Zo gebruik je het, stap voor stap

1. List Per stuk debt with its Saldo, Rente Rente en minimum payment.
2. Enter the extra money you can pay each mone.
3. Choose avalanche (highest Rente first) of snowball (smallest Saldo first).
4. Compare the Resultaten.

Wat elk invoerveld betekent

• Saldo, Rente %, Minimum – For Per stuk debt.
• Extra – Added tot the minimums en aimed Voor the Doel debt.
• Methode – Decides which debt receives the extra money.

Zo lees je de resultaten

• Debt-free in – Months tot all balances are zero.
• Rente – Totaal interest voor each method and voor minimum payments only.
• Volgorde – When Per stuk debt is cleared.

De formule

Per stuk maand Rente = Saldo × Rente ÷ 12 is added, minimums are Betaald, en the remaining budget goes tot the target debt. When a debt is cleared its minimum rolls into the next one.

Een rekenvoorbeeld

A credit card 4,500 at 22.9%, a car loan 9,000 at 7.5% en a store card 1,200 at 29.9%, with 200 extra a month. You are debt-free in 2 years 4 maanden en pay 2,115 interest, compared with 3 years 11 maanden en 4,712 at the minimums, a saving 2,596.

Aannames en beperkingen

• Rates are fixed en Nee new debt is added.
• Minimums do not Verandering as balances fall.

Veelgemaakte fouten

• Not rolling a cleared debt’s payment into the next one.
• Paying only minimums on high-rate cards.

Veelgestelde vragen

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