Debt Investment Calculator
The Debt Investment Calculator will show you how consolidating your high interest debt into one lower interest loan can reduce your monthly payments and provide you with income tax savings at the same time.
Looking for more Personalized Rates? Compare rate quotes from lenders and brokers, then return to our Debt Investment Calculator.
More Information
Use this calculator to see how much you could be earning if you increased your payment on any one of your debts.
The purpose of the Consolidation Loan Investment Calculator is to help people see how they can improve their financial position by investing the money that they save each month from their consolidation loan. To use this financial planning tool you will need to enter information about what you used to spend on your credit card payments, auto loans, and other loans, as well as what you currently spend on your consolidation loan. You then can enter information about potential investments. The calculator will then show you how these investments can change your financial position.
For example, if you have a credit card balance which charges you a 12% APR, and you increase your payments, you will get a guaranteed 12% return on your investment. What's more, your earnings will be tax free. For a basic rate taxpayer that is like getting a 16% return before tax. For a higher rate taxpayer it is like getting a 20% return before tax.
|
