Loan Payoff Calculator: One Tool to Debt-Free Living

A Mountain of Debt

While many Americans continue to struggle under a mountain of debt, the Federal Reserve tells us that that the total household debt is declining. Americans shaved as much as $78 billion dollars off their debt commitments in the first quarter of 2013. Some consumers have learned more about the secrets of eliminating debt by using a loan payoff calculator such as we provide at Half A Payment™.

Even with this improvement, however, millions of households continue to feel the pressure of dealing with the financial burdens of:

Mortgages, both first and second
Student loans
Credit card debts
Auto loans
Other personal loans
Delinquencies and total monthly payments
Monthly interest costs

The Two Secrets to Debt Elimination

The great news is that more people are coming to learning about Half A Payment™ and applying the two secrets to eliminating your debt and saving thousands of dollars in interest expense. While these secret use tools like the payoff calculator and extra payment calculator we have at our website, the basic concept is easy to grasp.

The first thing for everyone to understand is that your lenders can only collect interest on the outstanding balance of the money you owe them. When you use our loan payoff calculator, it shows you immediately the impact of Secret Number One. The key to this first step is breaking your monthly payment into two equal monthly payments. While you’re paying the same amount, this process cuts down on the total interest you have to pay, as shown by our payoff calculator. This one step will cut months or years off of your total payoff time.

Likewise, our extra payment calculator illustrates the power of our Secret Number Two. You will be amazed to see the thousands of dollars in interest you save when you simply add a little bit of extra cash to each of your payments to a lender. You simply figure out an amount that you can easily handle and type that into our easy-to-use extra payment calculator. It immediately calculates your personal situation and shows how much time and interest you save while eliminate your debt

We’re anxious to show you just how easy it is to use our loan payoff calculator and extra payment calculator and how quickly you can gain the freedom that comes with being debt free. Visit Half A Payment™ today and try out any of our payoff calculators. You’ll be glad we shared the secrets with you and how easy they are to apply to and resolve your personal debt situation.