How many months and years will it take to pay off your credit card? If it you pay an extra $100 per month, how much interest will that actually save you in the long run?
Well, I have created a template for you to figure that out! Just enter your credit balance, your APR %, and how much you pay every month. Based on that, this template will tell you how long it will take you and how much interest expense you will be paying.
I hope you can play around with this. Increase the payments to see how much it will reduce time and money. Good luck!
Be a subscriber to download template here.
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And don’t forget to enroll in 401k Matching if your employer offers it!