The Real Damage Calculates How Much $ Your Debt Could Cost You
Today I was talking to Molly and the subject of $100 jeans came up. I really could use a new pair of jeans — two of mine have some major holes that I did not pay extra for. I usually figure how many hours it would take me to work for a “want” before I decide to buy it. Now I have another tool… The Real Damage.
The idea behind the site is simple — find out how much your debt will actually cost you. Just enter the dollar amount you are thinking of charging and The Real Damage will present to you the potential cost of the purchase if you are adding it to an existing balance.
However, personalization is key — you can modify the default APR, balance and any additional money you’ll pay each month. If you pay off your credit card balances every month you already know how much you are paying for something. But if you are adding debt to your debt, this tool might give you an idea of how high your mountain could get.
Give it a try… but remember it’s only a guide and I’m not a math whiz so I can’t say it’s 100% accurate.
[via: lifehacker]









