Tuesday, February 7, 2017

Debt Free Calculators

By following your plan, you will be debt free in a million years!

Have you ever played around with one of those debt free calculators?  You know the kind.  Enter your numbers, interest rates, etc and it will give you an estimate of how long it will take you to get out of debt.  While an estimate of a million years is obviously stretching it, for someone who is already in their 50s, the number may as well be a million years.  Depressing, huh?  Could be, but it doesn't necessary need to be!

I honestly think the results of these calculators should come with a disclaimer and potentially some warnings.  A disclaimer in that circumstances seldom stay the same.  Change is all part of the journey we call life.  The warning, aside from the potential heart attack the numbers might give you, could be that the results might just shock you enough to actually do something about it!

What plugging in our numbers has done for me is to reinforce what I already knew...we have to make changes, and thankfully, we are!  It is often said that the definition of insanity is doing the same thing over and over and expecting different results.  That's exactly what we would be doing if we followed those projections, which we won't.  Being a numbers nerd, I'll still play around with the calculator, but it will be with different numbers proving those million years to be wrong.  



  1. I am also a numbers nerd and love playing with all the debt and amortization calculators. It gives me an idea of how much extra money I need to start earning lol. I think there would be a lot more heart attacks happening if people actually reviewed their bank statements. It's amazing how so many little things drain the account so easily. ;)

    1. So I'm not the only numbers nerd?! These calculators really do make give you pause to think. I also agree about how little things can drain the bank account. Budgeting definitely takes effort! Thanks for reading and commenting. It is much appreciated!