Financial Tools and Finance Calculators
RethinkingDebt.org is
pleased to provide you access to free financial
tools and finance calculators to help you
take control of your debt. Please review the
calculator descriptions below and select the desired
calculator from the left.
This calculator compares the monthly
payments for a car loan at six different common finance lengths
based on amount financed and annual interest rate. Input an
APR and amount to be financed, and the calculator computes how much
monthly payments will be at six different loan lengths. Multiplying
that payment by the life of the loan will give you the total cost
of the vehicle.
This calculator helps you figure out how
much you can afford when financing a car. Input a down payment,
affordable monthly payment, anticipated APR of the loan, and term
of the loan. The calculator then lets you know the maximum price of
a car you can afford to finance, as well as how much you would need
to borrow.
This calculator computes the monthly
payment of a car loan. Enter the loan amount, the APR, and the life
of the loan in months, then the calculator will tell you the
monthly payment that you will need to make.
This calculator takes your net income and
recommends an ideal dollar amount to be spent on different expense
categories. Input your net income and the calculator will compute a
low-end and high-end amounts.
This calculator will show you the amount
you will end up paying in interest on a credit card if you only
make the minimum payment. It also shows you how long, in payments
and in years, it will take you to pay off your balance. Enter
information about the debt and the calculator tells you how much
interest will be charged and the life of the debt.
This calculator illustrates how much of
each payment made on a credit card applies to the interest versus
the principal debt. Input the balance, APR, and monthly payment,
and the calculator breaks down the payments going towards accruing
interest and balance.
This calculator figures out how much
money you could be saving if you make a fixed payment on a debt
rather than the minimum payment. Input the amount of the debt, the
APR, the minimum payment as a percentage of the balance (usually 2
or 3 percent), and a monthly payment you could afford to make. The
result is a breakdown of how much you would be paying with a fixed
payment versus paying the minimum.
This calculator estimates the amount of
time it will take you to pay off a given debt, as well as
calculating an approximate amount paid in interest every month.
Enter your monthly payment, APR, and remaining balance, and the
calculator will tell you the interest paid on the debt every month
and how long it will take you to pay off the debt.
This calculator illustrates the ratio of
your debt versus your income, showing you what percentage of your
monthly income goes towards paying your already established debt.
Input your monthly gross income and payments, and the calculator
computes your debt ratio.
This calculator tells you a dollar amount
you would need to pay per month in order to pay off a debt by a
chosen goal date. Enter a debt amount, APR, and choose a date by
which you would like to have the debt paid in full. The calculator
will let you know how much you would have to pay per month to
achieve that goal.
This calculator calculates how much time
and money you can save by paying off small debts first, then adding
that payment to your next highest debt and continuing on in this
fashion. Order your debts from smallest balance to largest, then
input them along with their interest rate and payment amount. The
calculator will show you the savings using the accelerated debt
payment method.
This calculator shows you the potential
savings of "brown bagging," or bringing your lunch with you from
home instead of going out to eat. Enter the cost per lunch if
brought from home, cost of going out for lunch, number of lunches
eaten out per week, and number of years. The result is your
savings. You can also enter the yield percentage of your savings
account to see how much you would earn if you invested the
difference in your savings account.
