Debt Repayment Calculator
Do you have a loan? Credit cards you need to payoff? Do you have a game plan to get ride of them? If you've heard a lot of people say: "Don't pay the minimum payments on your credit card", well it's because your debt ends up increasing much higher over time and it will take you a very long time to pay it off.
This spreadsheet will help you calculate exactly how much you should be paying monthly if you want to payoff your debt in x amount of time, and it also tells you how long it will take you to payoff your debt if you choose to pay x amount monthly. Its a great eye opener!
I've put together a video that explains exactly why making minimum payments should be avoided. I feel like there is no better way to understand things as visual representation. I hope you find this useful, if you have any questions do let me know. Checkout the video on my YouTube channel or follow this link: https://youtu.be/t4zfLIGkveI