Free Financial Advice for Credit Card Help, Debt Reduction, and Achieving Financial Independence

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     Remember our earlier interest cost thought?

With a credit card balance of $20,000 the difference you pay in interest is as follows:

18% over 360 payments will be a $301.42 per month payment
Your total interest costs will be $88,510

9% over 360 payments will be a $160.92 per month payment
Your total interest costs will be $37,932
That is a Financial savings of over $50,000!!!!

Now, what if you used the financial plan to switch to a 9% card and maintained your current payment of $301.42 per month.
Your total interest costs will be $7,759

That is a financial savings of over $80,000!!!! -and-
pay the creditcard off 22 YEARS FASTER!!!!

Transfer Credit Card Debt
The third financial strategy and advice is to consider transferring debt to another credit card.

financial advice to transfer creditcard debt
     Remember in step 2 where you  did research to negotiate a lower interest rate?
     If it did not happen, then perhaps it is time to consider a transfer of your credit card debt to a new creditcard.
     Your financial relationship is generally two way. If they don't want to work with you, see who will.
Loan Comparison Calculator
This calculator will calculate the monthly payment and interest costs for up to four loans -- all on one screen -- for comparison purposes.

To calculate the payment amount and the total interest of any fixed term loan, simply fill in the 3 left-hand cells of the first row and then click on "Compute." Use the other three rows to see what effects are produced by changing any one of the loan's original variables.

Principal Interest
Rate
# of
Payments
Compute Monthly
Payment
Total
Interest
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    By now, you are aware that this free financial advice site is not a get rich quick site, and that there is no magic wand to wave and solve all your problems. If you want credit card freedom, you are at the right spot. Keep in mind, we are only guiding you down the path. You need to walk it.

  This site will cover many financial topics including credit score development, smart spending, insurances, investments and how to build wealth the smart way and enjoy the path along the way. If you haven’t already signed up for our newsletter, make sure you do.

Keep the following items in mind before getting that new card.

1. What does the fine print say about how the interest rate can be increased?

2. Are there transfer fees involved? Are they fair?

3. Stay strong, and get rid of the old card. More cards can add to more trouble.

4. Try not to activate the new card. Not activated, then you will not use it.

5. Use the savings to accelerate debt payments not spending increases.

Use our free financial calulator and see for yourself. Better yet, enter your data now and see which pinancial plan works best for you.

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