debt calculator Archives - MoneyThumb https://www.moneythumb.com/blog/tag/debt-calculator/ Boost Your Productivity Wed, 10 Jan 2024 20:33:06 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 Great Advice for Paying on Personal Debt from Nerd Wallet https://www.moneythumb.com/blog/great-advice-for-paying-on-personal-debt-from-nerd-wallet/ https://www.moneythumb.com/blog/great-advice-for-paying-on-personal-debt-from-nerd-wallet/#respond Fri, 05 Oct 2018 12:55:02 +0000 https://www.moneythumb.com/?p=37913 The Rules of Thumb blog from MoneyThumb is always on the lookout for ways to educate and inform our readers. Many of our readers are...

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The Rules of Thumb blog from MoneyThumb is always on the lookout for ways to educate and inform our readers. Many of our readers are interested in personal finance topics. This blog post is for you because today our focus is on personal finance and paying off debt. As we all know, not much can bother us like problems with money. If you have debt, it is always in the back of your mind, and can often prevent you from having the life you dream of.

To help you begin your journey to paying off debt, we'd like to turn to a great section of the Nerd Wallet website. The Nerd Wallet debt guide could be all you ever need to help you get started eliminating debt.

The debit guide has three steps involved in the process of paying off debt, beginning with a debt calculator. All of the steps are listed below:

Step 1: Get a handle on what you owe

Enter debt amounts in the calculator below to see how long it’ll take to pay them off, how much interest you’ll pay and which debts to prioritize to become debt-free faster. Start with just credit cards if that’s what you’re worried about; you can add more debts later.

Debt 1

Step 2: Assess which payoff strategy can help you

Take the Nerd Wallet quiz to figure out a strategy to make your debt payoff faster, more manageable — or both. Our list of resources can help you gain some breathing room.

Step 3: Set a goal and track your progress

NerdWallet offers an app to help you track your debts, watch them dwindle and celebrate your victories along the way. Signing up also gives you access to a free credit score and credit report information.

NerdWallet Credit Factors
The Rules of Thumb blog from MoneyThumb feels that by using the three steps in the Nerd Wallet debt guide above, you can easily get a handle on your personal finances and begin lowering your debt. Another great way you can get a handle on your personal finances is by using our individual version of MoneyThumb's PDF financial file converters. We offer a free test drive, so check out our individual edition of the MoneyThumb tools today and begin converting your personal bank statement so that you can quickly see what shape your finances are in.

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