Purpose: Enter your credit card balances – be honest! – and interest rates, and then see how long it will take to pay off those cards by paying a set amount each month. Or, set a desired payoff date and figure out how much you’d need to pay on your cards each month to meet that goal.
Tips & Insight: The sooner you pay off your cards, the sooner you’ll have money to put in savings to build your financial security. This calculator will help you really see how even scraping together a few extra dollars each month can help you pay those cards off even faster. Be creative: See if you can’t find an extra $25 or more to put toward your cards each month and then plug it in to the calculator to get motivated!