Credit Debt Payment Calculator 🛍️

Calculate your total debt across all accounts and estimate your monthly interest charges. This is a wake-up call for how much carrying a balance actually costs.

Section 1: Debt Account Balances

Start by seeing where all your debt lives.

The Debt Account Balance table lists all your debt accounts and their current balances. Simple inventory of what you owe and where.

Section 2: Credit Card Simulator

Understand the real cost of your debt.

Two types of blocks:

Credit Card Debt Blocks – Show each credit card's current outstanding balance

Estimated Interest Blocks – Calculate the interest you'd owe if you don't pay off your balance in full this month. Uses your actual interest rate to show how much extra you'd pay.

How to use it:

1. Edit the interest rate to match your credit card's APR

2. Duplicate the template to track multiple cards

3. Review your estimated monthly interest based on your current balance

The harsh truth: If your balance is $5,000 at 20% APR, you're paying roughly $83 per month in interest. That's $996 per year just to keep owing money.

Remember: Always pay your credit cards in full to avoid interest charges whenever possible. If you can't pay in full, pay as much as you can to minimize interest.