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Tool or spreadsheet to calculate how much to pay off when?
investme
Posts: 106 Forumite
in Credit cards
Hey,
I'm trying to plan my finances to pay off my credit cards. I'll be honest and say i'm in way more debt than I should be. I currently have 5 cards - everything is interest free at the moment however.
The issue is, i have multiple end dates for promotional periods for each card plus additional mixtures of promotional periods for balance transfers i have made on each of those cards.
Does anyone have a spreadsheet or know of an online tool where i can put in the balance and end date of the promotion to work out how much i need to pay off each month to avoid interest?
I'm really keen to get these cleared ASAP (years still, but even so). My financial situation has changed to the point i can now rapidly start paying these off, but i want to make sure i do it right and avoid any interest.
Thought i'd ask before i spend my afternoon crafting a spreadsheet
thanks
I'm trying to plan my finances to pay off my credit cards. I'll be honest and say i'm in way more debt than I should be. I currently have 5 cards - everything is interest free at the moment however.
The issue is, i have multiple end dates for promotional periods for each card plus additional mixtures of promotional periods for balance transfers i have made on each of those cards.
Does anyone have a spreadsheet or know of an online tool where i can put in the balance and end date of the promotion to work out how much i need to pay off each month to avoid interest?
I'm really keen to get these cleared ASAP (years still, but even so). My financial situation has changed to the point i can now rapidly start paying these off, but i want to make sure i do it right and avoid any interest.
Thought i'd ask before i spend my afternoon crafting a spreadsheet
thanks
0
Comments
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Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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http://www.whatsthecost.com/snowball.aspx once all info inputted it advises which to pay first etc0
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Perfect guys thank you0
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