This calculator makes it easy to determine the monthly payment amount and the total amount of interest paid over the lifetime of your loan.
You can use this calculator by entering the total loan amount, interest rate, length of the loan in years, payment periods per year, any additional principal per month, and intervals of compounded interest. Results can be saved as a .pdf so you can compare different loan rates.
I started a digital marketing agency Romanz Media Group Inc. 12 years ago. Running my own business quickly taught me the importance of cash flow. Making sales was not enough, I had to have money in the bank to pay the vendors, staff and personal bills.
During those early stages of the company I learned how to get creative with debt and to save on interest cost. I paid for everything I could with a credit card to both get more points and to extend the payment date by 25 days (credit card grace period). I then utilized a 0% balance transfer offers to rotate this debt.
I learned a lot during this process and made a lot of mistakes. My key lesson is that the most important part of being financially independent is how much I managed to save, rather than how much I earned. Staying disciplined with savings and tracking spending is not easy and I tried many different methods to stay on track.
FinancialFreedom.Guru is a side project where I and my staff are trying to share the practical knowledge on how to understand finances and to build wealth.
It can be challenging to pay off debt and find the best way to manage your finances effectively. However, in today’s digital age, we have access to several powerful debt payoff apps designed to handle your financial struggles. Whether your goal is to eliminate debt, consolidate your payments, or set and achieve a financial milestone, Read more
Last Updated: April 17, 2020 One good thing about having expensive debt is the possibility of converting your current loans to a better one. While refinancing may potentially save you money, it can backfire if done incorrectly. Knowing how, and when, to refinance is just as important as refinancing itself. How Refinancing Works Refinancing is Read more
Some people know it as a credit line; others know it as a line of credit. It’s simply an amount of money that is available for borrowing. A credit line is very useful when you need financial flexibility. You may have an issue arise where you need to have access to money quickly. Credit lines Read more
HELOC Strategy to Pay Off Mortgage HELOC’s Strategy to pay off the mortgage faster seems like an intriguing idea where you can float the banks’ money. This method works with any revolving credit. It has many fancy names, like Velocity Banking or Accelerated Banking. It does work but carries so much complexity and risk that Read more
Updated: June 28, 2020 The first stage of financial independence and building wealth is eliminating debt. Most people choose one of two strategies: debt snowball vs. debt avalanche. Before you choose a side, you should do one pre-debt elimination step: list all your debts so that you can visually see what they’re costing you. Then Read more
To become financially independent and build wealth, you must pay off debt. You should understand your debt rates, how much debt is owed, and what it costs. Then you can begin to create the most appropriate debt repayment plan. Step 1: Know How Much Debt You Owe How much debt do you currently carry? Chances Read more
Loans can be difficult to understand, so let us help demystify them. Our Loan Calculators are easy to use. You tell us information, like the loan amount, interest rate, length of the loan, and the number of annual payment periods. Our calculators will deliver your loan information, like estimated APR, and expected fees. You can Read more
This calculator is designed to determine the overall costs of a fixed-rate loan. You will need to input the following information to make proper calculations: How much money you’re getting The interest rate you’re being offered The exact number of years you’ll have to pay it off How many payment cycles there will be during Read more
This calculator is designed to help you determine whether or not you qualify for a specific loan. To get an accurate estimate you must enter a variety of information about the loan you want and your current financial situation, including any car or mortgage payments. It should be noted that this calculator is an estimate Read more
