Get out of Debt Calculator
Reduce Interest and Pay Off your Credit Cards!
Pay extra attention to the interest. Unless you have an investment that is earning significantly more interest than the interest you are paying, the interest you are paying is simply money that is wasted. I talk to people who have credit cards with a high interest rate and are maintaining savings or retirement accounts earning low rates of interest. If you are paying 13% interest on a credit card and putting money into a retirement account earning 5%, you would be better off paying off the debt first.
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