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1. ENTER YOUR DEBT ASSUMPTIONS
$
CREDIT CARD BALANCEOutstanding credit-card balance
%
CREDIT CARD ANNUAL INTEREST RATEAnnual rate; calculated monthly (18% = 1.5% per month)
%
MINIMUM MONTHLY PAYMENTDefault planning assumption: 2.5% of the outstanding monthly balance
+
EXTRA MONTHLY PAYMENTAdditional dollars paid above the calculated minimum payment
$
LINE OF CREDIT BALANCEOptional — calculated separately from the credit card
%
LINE OF CREDIT ANNUAL INTEREST RATEEnter the actual annual LOC rate
$
LINE OF CREDIT MONTHLY PAYMENTEnter the monthly amount actually being paid
💡 HOW IT WORKS
Credit-card interest is calculated monthly from the annual rate. The current credit-card path uses the entered minimum-payment percentage of the outstanding balance; the accelerated path adds the extra monthly payment above that minimum. The line of credit is calculated separately at its own rate and payment.
2. YOUR RESULTS
Your Debt Freedom Position
1

TOTAL DEBT

Consumer Debt Today

$
total debt
to eliminate
→
2

CURRENT PATH

At Current Payment

⌛
estimated time
to debt freedom
→
3

ACCELERATED PATH

At Higher Payment

✓
estimated time
to debt freedom
$
Interest on current path:
Interest on accelerated path:
Potential interest saved:
Potential time saved:
DEBT PAYOFF COMPARISON
Current Path Accelerated Path Interest Saved
3. SMART TEACHING TOOL — THE COST OF DEBT
INTEREST COSTS TIME AND MONEY
High-interest consumer debt can absorb cash flow for years. A payment that feels manageable each month can still create a substantial total interest cost over the life of the debt.
REDIRECT THE CASH FLOW
Increasing the payment can shorten the payoff period and reduce interest. Once the debt is eliminated, the same monthly cash flow can potentially be redirected toward savings, retirement or another financial objective.
BEGIN WITH THE PURPOSE
Identify which debts are consuming your cash flow.
→
EVALUATE THE CHOICES
Compare the cost and payoff time of different payment strategies.
→
MAKE AN INFORMED DECISION
Choose a payment strategy that fits your cash flow and objectives.
The F.I.T. PLANNING Smart Cycle of Success brings all three together. Ask us how.
Educational illustration only. Actual interest, fees, minimum-payment rules, compounding methods and lender terms vary. Review the terms of each debt before making a decision.
Educational planning illustration only. Values entered are assumptions and do not constitute credit, investment, tax or legal advice.