Author Topic: Debt pay-off calculator  (Read 1995 times)

Eric9064

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Debt pay-off calculator
« on: April 17, 2017, 01:29:19 PM »
I have seen links posted in other threads that direct you to sites/spreadsheets where you can put in your various debts and have it calculate expected payoff dates and money saved based on how much is paid each month and whether a snowball or highest interest rate approach is utilized.

I can't seem to find any of these links at the moment and was hoping someone could provide one if they have it readily available.

Thanks in advance for any help.


Heroes821

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Re: Debt pay-off calculator
« Reply #1 on: April 17, 2017, 01:46:40 PM »
I don't know of any of those calculators off the top of my head, but my take on the snowball vs highest interest is all about your personal budget and spending.  If you are able to pay off your highest interest debt first then it's the priority. If you are struggling to get your debts paid and locate enough extra cash to clear out debts then snowball is probably the most helpful to you.

rubybeth

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Re: Debt pay-off calculator
« Reply #2 on: April 17, 2017, 02:52:11 PM »
I think you could run this both ways and compare: https://financialmentor.com/calculator/debt-snowball-calculator

SingleMomDebt

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Debt pay-off calculator
« Reply #3 on: April 17, 2017, 03:13:12 PM »
Vertex42

And it will allow you to calculate all your scenarios.

MDM

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Re: Debt pay-off calculator
« Reply #4 on: April 17, 2017, 04:46:22 PM »
Vertex42

And it will allow you to calculate all your scenarios.
+1

See Debt Reduction Calculator.

skellig

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Re: Debt pay-off calculator
« Reply #5 on: April 17, 2017, 05:20:24 PM »
Fast and dirty is http://unbury.us/, it does do the snowball and avalanche methods.

Eric9064

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Re: Debt pay-off calculator
« Reply #6 on: April 18, 2017, 08:34:09 AM »
Awesome. Thanks for the help.

letthelightin

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Re: Debt pay-off calculator
« Reply #7 on: April 18, 2017, 08:45:22 AM »
Another vote for the Vertex42 calculator. That has been (by far) one of the most helpful tools I've used for my personal finances.