New Design Not working For You?

If the new page layout is not working for you, please Contact Me and let me know what device, operating system, and web browser (with version numbers) you are using so I can attempt to get the layout working for your setup.

About the Redesign

If you visited this site prior to September 15th, 2018, you've no doubt noticed that I've since launched a complete redesign of the website.

If you're not happy with the new design, I sincerely apologize. I would have preferred to keep the old desktop design, but considering the majority of my site's users are now accessing the site from small-screen, touch-enabled, mobile devices, and considering Google is now penalizing websites for not being mobile/thumb friendly, I was left with no choice but to switch to a responsive, mobile-first design.

The good news is that now that I have combined the three separate versions of the site (mobile, desktop, and ad-free member) into a single design, this will free up a ton of my time for working to make the mobile-optimized calculators more desktop/laptop friendly. In fact, some of the redesigned calculators already offer a desktop-optimized form that becomes visible when you increase the width setting of the calculator (within the "Calculator Preferences" expandable panel).

Thank you in advance for your help and patience as I work to improve the redesign.


Calculator Preferences
Cost of Debt Calculator Sign

Cost of Debt Calculator

This calculator will calculate the cost of a debt in terms of the interest you could be earning on the interest charges you are paying. The results also include the opportunity costs of the purchase that created the debt in the first place, as well as a payment-by-payment interest paying versus earning comparison chart. The Learn tab includes:

  • What are Opportunity Costs?
  • Tangible opportunity costs of buying on credit.
  • Intangible opportunity costs of buying on credit.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Balance:Balance owed:Current balance owed:Current balance owed:

Current balance owed:

Enter the amount you still owe on the debt, but without the dollar sign or any commas. Due to compounding interest, the amount you owe cannot be arrived at by simply multiplying your payment amount by the number of payments remaining. You may need to call your lender to find out the exact amount you owe.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate percentage you are being charged for the debt, but without the percent sign (for .18 or 18%, enter 18).

Minimum pmt:Minimum payment:Current minimum payment amount:Current monthly minimum payment amount:

Current monthly minimum payment amount:

Enter the amount of your current monthly payment. Enter as a dollar amount but without the dollar sign and any commas.

Pmt type:Payment type:Fixed or declining minimum payments:Fixed or declining minimum payments:

Fixed or declining minimum payments:

Choose whether your monthly payment is a Fixed amount, or a Declining minimum payment amount.

ROI:Invest rate:Return on investments:Percent return on investments:

Return on investments:

Enter the rate of return you expect to earn on your investments. Enter as a percentage, but without the percent sign (for .04 or 4%, enter 4).

Months:Payoff months:Months to pay off debt:Months to pay off debt:

Months to pay off debt:

Based on your entries, this is the number of payments you will need to make in order to pay off this debt.

Interest Cost:Interest cost:Total interest cost:Total interest cost:

Total interest cost:

Based on your entries, this is the total interest charges you will pay between now and when you pay off this debt.

Lost interest:Lost earnings:Foregone interest earnings:Foregone interest earnings:

Foregone interest earnings:

If you would have paid cash for what this debt was used to purchase, and invested the avoided interest charges, this is what your investment would be worth for the same time period you would have been making payments on your debt.

Difference:Difference:Difference between borrowing and saving:Difference between borrowing and saving:

Difference between borrowing and saving:

This is the difference between what you will pay in interest charges on this debt, and what you could have earned with the interest savings if you had not created this debt in the first place.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated


Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.



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