True Cost Calculator
How much do you really pay when using credit?
Everyone has a credit story...
Anna, Felicity, Preet and Mica each charge a $4,000 vacation on her credit card.
The true cost each of them pays depends on:
-
The annual interest rate on her credit card
-
The number of months it takes her to pay for the purchase
-
Her personal relationship with credit
The true cost of a purchase may be higher than you thinks
Anna
​
Lives in the moment and charged the vacation to her credit card figuring she will pay it off over time
Felicity
​
Spent more than intended once she arrived in paradise
Preet
​
Had to use the money intended for the vacation on an emergency instead
Mica
​
Did not get the money she had counted on to pay for the vacation
What's your credit story?
Use the True Cost Calculator to estimate the true cost of using credit. Play with different purchase amounts, interest rates and number of months it might take to pay off the loan.
True Cost Calculator
Enter total amount charged to credit card
Annual interest rate of credit card (%)
Estimate the number of months to pay off the debt
Total Interest Paid ($)
True cost of your loan ($)
$843
$4,843
$433
$4,433
$200
$4,200
$100
$4,100
-
The True Cost Calculator assumes equal principal payments over the repayment period
-
The True Cost Calculator is a web tool supporting Wealth Strategies for the Everyday Goddess and is intended for illustration purposes only