Simple Debt-Free Finance

A Simple Approach to Getting Out of Debt & Into Wealth

Calculate true cost of debt with What’s the cost!

Posted on | July 27, 2009 |

Here’s an excellent resource for various calculators of interest, debt, payments and more. It’s called What’s The Cost?

What’s The Cost has financial calculators for:

  • Determining the true cost of a loan (monthly cost, and total + interest)
  • Determining the true cost of a mortgage (monthly cost, and total + interest)
  • Find out the effect of a rate change (increase or decrease)
  • Determining how much you’ll have in savings with a given plan (monthly contribution, yearly increase, interest rate, length of time, etc..)
  • Determining how long it will take to pay off your credit card debt.
  • How much you’ll make by Stoozing (making free money from 0% credit cards)
  • How much your smoking habit costs you.
  • How much your drinking habit costs you.
  • Interest:
    • Effective annual interest rate - This is the interest rate taking compound interest into account.
    • Annual interest rate compounded monthly - This is the nominal interest rate, from which the effective rate is calculated when compounded monthly.
    • Annual interest rate compounded daily - This is the nominal interest rate, from which the effective rate is calculated when compounded daily.

There’s also a bunch of other info on getting out of debt, snowballing and some fun stuff too. Check them out.

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