There is one class I wish had been mandatory in college: Credit Card Debt: 101. Even though I knew if I charged something I would eventually have to pay for it, I certainly did not fully understand that paying for my charges over time would add up the way it did.
If only I had this amazing credit card calculator from www.maedastudio.com I would have avoided a lot of grief—and expense. This simple calculator lets you plug in your balance due, interest rate, and minimum payment to figure out exactly how long it will take you to pay off your debt—and see how much you’ll need to pay. As scary as the numbers can be, this is by far one of the most elegant and simple tools I’ve ever seen for explaining the complicated world of credit card finances. The results may be ugly, but the math is beautiful!
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