I’ve been writing lately about being frugal and what it means. I’ve even stated some authors I’ve read to help along the way, Dave Ramsey & Larry Burkett. Tonight, after working on a project with Open Office, I was browsing through their add-ons . I noticed this Free Debt Reduction Calculator. Since my Student Loans are coming due now, this is of utmost importance to me. So, I had to check it out.
This FREE calculator is very cool! You can list up to 10 debts, plug in the amounts, minimum payments, interest rates, choose how you’d like to pay off the debt, and how much money you will put towards the debt per month. You can choose between “no option”, debt snowball, highest interest first, or a few custom choices. Then, it will tell you how long it will take to pay of each debt and how much interest you would pay!
So, if we can put $2,000 a month towards my debt, we can have my debt paid off by June of 2011. And that is exciting.