Debt Consolidation Calculator

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HIGHLIGHTS
  • Calculate your real cost of debt
  • Find ways to save money
  • Compare student loans, credit card debt, auto loans and mortgage debt over time

Below, check out the awesome new debt consolidation calculator that lets you compare interest, cost and options in evaluating your own debts.

What do all your loans actually cost you? When you make a plan to pay off your debts, do you consider the total cost you will pay over time?

Bills.com's new debt consolidation calculator helps you calculate your real cost of debt and find ways to save money.

Very few of us pay for our major purchases in cash. The only way most of us can afford to buy a home or car, or to pay for college educations, is to borrow money. How you borrow money and the way that you pay it back determines how much your purchases actually cost us over time.

Don’t get caught in a trap where you only think about your ability to afford your monthly payments. Think strategically. Examine how much you pay in total interest over the life of any purchase you finance.

When you borrow money, whether in a mortgage, car loan, student loan, or on a credit card, you’re paying interest. If you have a $150,000 30-year mortgage at 5% interest, you’re going to pay over $140,000 in total interest over the life of the loan. A 1% reduction in interest will save you over $32,000, cutting your total interest almost 25%!

The average credit card interest rate is about 17%. With rates so high, you need an effective strategy to pay down any credit card debt you carry.

Use the Bills.com debt consolidation calculator to understand how small changes with your mortgage, auto loan, credit cards, and student loans can lead to big savings. Our free tool also connects you with solutions that will save you money and improve your financial health.

The more money you can save, the faster you can pay off your debt and the more money you can put towards building up your retirement fund and long-term savings.

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Comments (5)


Karen P.
Summit City, CA  |  January 16, 2013
I liked using this tool, but it would be easier to use if the dollar amounts on the credit card balances were able to be adjusted in smaller increments. Thanks!
Jason C.
Boston, MA  |  November 16, 2012
This debt consolidation calculator tool is the first that I have ever seen that doesn't just focus on one type of debt, but includes my auto loans, credit cards, mortgage and student loans. Scary, but also really helpful... now if you just had a little magical tool to get rid of my debts I would be really happy! Thank you.
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Edith D.
Provo, UT  |  May 08, 2014
This is a really nifty calculator! As Jason said, I haven't really seen a tool where you could calculate all these different debts in one place.
Sophia S.
Redwood City, CA  |  November 16, 2012
Hello. This is great. It really drove home the point of how much financing my debt is going to cost me. It motivates me to work hard to pay down my debt faster, to cut my interest costs.
Bills.com
November 16, 2012
Hello to you Sophia. Thank you for checking out our new calculator. We're pleased that you found it enlightening.
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