Before you rush off to the stock markets,
make sure that you are investing some of your money into your
own debts. For instance, if you have credit cards with Annual
Percentage Rate (APRs) of 21%, you can earn a 21% return on
your investment if you make more monthly payments towards
that 21% APR credit card, rather than investing in the stock
market. Furthermore, any money you save on NOT having to pay
the 21% APR is tax-free. Thus, use this Debt Investment Calculator
to find out your earnings had you increased your monthly payments
on any of your debts (preferably credit cards with the highest
APRs).
Enter the current monthly payments you make
towards your debt. Then, add the additional monthly payment
you could squeeze out in order to pay off your debt faster.
Then, click on "Compute" and you will see the Return
on Investment (ROI) on your debt.
New: You can also print out
a Payment Schedule showing you the amortization of your debt
and monthly payments. Very handy feature!
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