Paying credit cards over time vs. lump payment? - credit payment calculator
That is the situation: I am an aggressive savings plan and has an additional $ 400/month my guilt about ($ 8,000 total reserve pay).
Is it better to wait until I) do better enough savings, you must stop all balances paid in full (excluding, minimum payments, or to change or add $ 400 for my current account?
I have tried some of the debt calculator, but have different interest rates and the stocks in question are not all credit cards. Does anyone can advise a (real)?
Thursday, January 14, 2010
Credit Payment Calculator Paying Credit Cards Over Time Vs. Lump Payment?
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Snowball your debt is the best. Compete list of all debts, interest rates and minimum payments. Make the minimum payment on all but a total of 400 additional uses in the one nearing completion. So if it's 100 per month up to 29% and a balance of 1000 will pay 500 euros per month for two months and a little more. Then select the next card and put the regular amount, € 500. If you have them all the first litter is worried that pays so little not pay the high interest first.
ReplyDeleteFor example,
2000 29% 40 min
At least 500 10% 20
400 0% 20 min
1,000 0% for a year, but then goes to 15%
At least 5,000 10% 100
It would be money to save to pay the higher fees, but they can really get rid of the two smaller economies of $ 40 per month and your accounting easier, but the savings more than the last so if you all have to pay $ 400 extra small more than 100 over 40 and two of 20 years, which would have 580 per month, and had fallen in 10 months or less.
I agree with Big911 - credit card debt bad bad bad.
ReplyDeleteI have tried to eliminate possible on a DC with the lowest interest rates, travel and payments of $ 400. Credit cooperatives have a low interest CC sometimes.
It is a good time to buy stocks, but could easily lose your entire investment if the company (s) in investments bellyup go.
Any profits that you are completely in the stock market in this economy driven by the CC debt.
I agree with Big911 - credit card debt bad bad bad.
ReplyDeleteI have tried to eliminate possible on a DC with the lowest interest rates, travel and payments of $ 400. Credit cooperatives have a low interest CC sometimes.
It is a good time to buy stocks, but could easily lose your entire investment if the company (s) in investments bellyup go.
Any profits that you are completely in the stock market in this economy driven by the CC debt.
Pay as much as possible, as soon as possible. pay 400 more a month. The less you have the lowest total cost will be added in April of credit cards that are hard to pay are amortized over 10 years, it means that your small monthly amount to be configured as a 10yr loan. You pay only the amount for 10 years and been successful, if not increase your limit. Call your CC company and we are working with them, they can cut some slack. Good luck, I blog about money and finance, check it out. www.letsbefrugal.com
ReplyDelete~ ~ The fastest way to repay more money on the interest rate that you pay is calculated on the outstanding save percentage. I pay the maximum amount you can afford to allocate to savings in the long run. ~ ~
ReplyDelete~ ~ The fastest way to repay more money on the interest rate that you pay is calculated on the outstanding save percentage. I pay the maximum amount you can afford to allocate to savings in the long run. ~ ~
ReplyDeletePerhaps you should check the minimum payments, with an additional $ 200 per month for the debt. It looks good on the loan and another $ 200 per month will sit with you and can be used at any time for lump sum payments.
ReplyDeleteNow pay so much as you can.
ReplyDelete