Debt consolidation calculator

Calculate your debt and find ways to consolidate

Use the Bills.com Debt Consolidation Calculator to:

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

The awesome debt consolidation calculator that lets you compare interest, cost and options in evaluating your own debts.

Combining your debts and saving money

What do all your loans 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 we borrow money and the manner that we pay it back determines how much our purchases 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 interest 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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