Any ideas how to snowball a 4weekly debt

cmc_entertainment

Any ideas as whatsthecost only does monthly?

If there are, is there any calculators?

Thanks

Helvetica_Van_Buren

cmc_entertainment wrote:

71375892Any ideas as whatsthecost only does monthly?

If there are, is there any calculators?

Thanks

Pardon me?

Sanctioned_Parts_List

The difference between 4-weekly and monthly is relatively small, but annoying as the payment will move around in the month. Unless the debt is going to take more than a year to pay off, just treat it the same as a monthly debt.

If it'll last longer than a year, then for the purposes of the monthly calculators, increase the minimum payment by 1/13th (i.e. take your 4 weekly payment, divide by 12, multiply by 13) which will allow you to average out the cost of those months with 2 payments in the month (and do remember to actually save that 1/13th in an instant access account for when you need it to pay said repayment).