|
SAVE
BIG ON PHONE CALLS!
|
|
|
| No
switching! Low International rates! FREE minutes and
much more! |
| For
a limit time get the DebtSmart Loan Calculator for FREE
when you sign up! |
|
|
|
| Articles about
Household Math
|
| |
| Link
to more articles at bottom of page |
|
Household
Math™: What Happened to the Other Dollar?
Three men checked into a hotel room and
were charged $30 for which they paid $10 each. The next day, the
manager realized that the men had been overcharged since the real
price is $25 for the room. The manager gave the bellhop $5 to return
to the three men. On the way to their room the bellhop decided to
keep $2 for himself so he wouldn't have to make change.  The
bellhop gave $1 to each man. The three men had now paid $9 each, or
a total of $27. This, plus the $2 the bellhop kept for himself,
makes a total of $29. What happened to the other dollar?
|
|
Household
Math™: How Much Spending
Jackie wanted to figure out how
much money she actually spent this month. She looked at all the
checks she wrote and her credit card spending. Jackie noted that she
hadn't used her credit card for purchases.  However,
she did write a checks for: (1) $50 for cable TV; (2) $125 for
groceries; (3) electric bill for $200; and (4) a minimum payment on
her credit card of $80. How much did Jackie spend this month?
|
|
Household
Math™: Fast Pay Mortgage
You have a $100,000 mortgage at
6% APR for 15 years. How many extra monthly payments must you send
each year to be able to pay off this loan in exactly 5 years?  Note:
All extra payments are sent along with the year's last monthly
payment.
|
|
Household
Math™: Home Equity vs. Credit Card
Donna and Kyle need $10,000 to
remodel their kitchen. They will be able to repay this in 12 months.
Donna gets an offer on her credit card of 0% for 12 months with a
$10,000 max and no fees. Kyle's college buddy Vinnie, is a mortgage
broker and tells Kyle that he can get him a home equity line of
credit at the Prime rate, currently 4.25%, with no application
charges or other fees. Kyle tells Vinnie that his wife has a 0%
credit card offer and asks him which is better. Vinnie says that in
their case the home equity line  will
have full tax benefits, however they would remain in the same tax
bracket. Which option is better? The 0% credit card deal or the
home-equity line of credit?
|
|
Household
Math™: Home Refinance
 Ever wonder what everyone is paying in
interest? I certainly do and I have a feeling you do as well. Please share
your rates with other readers so we can compare notes and get better lending
deals!
|
|
Household
Math™: True Rate of Transfer Offer
You're offered a balance transfer
from one of you current credit lines. The offer is for 4.99% fixed
with a one-time 4% transfer fee.  You
transfer $5,000 and pay $100 per month until the loan is repaid.
What is the true APR for this loan when you include all interest
rate charges and fees?
|
|
Household
Math™: Susan is Loanly
Susan just left her boyfriend Jim because he didn't want to get
married. Susan originally planned to buy an investment property with
Jim but that plan is over. She decides to go ahead and get the house
herself. She gets approved for a 30-year, 7% APR loan with payments
(principal and interest) of exactly $800.00. Susan decides, after
making the first  monthly payment of $800.00, that starting the next
month, and until the loan is complete, she is going to add one crisp
dollar bill to the monthly payment. So her next payment will be
$801, then $802, and so on. How long will it take her to repay the
loan?
|
|
|
|
|
Coupon
Codes
|
|
Enter your
coupon code to see valid offers.
|
|
|
|
|
|
|
Subscribe FREE
and you receive the 5-Year
Loan Worksheet software FREE!
|
| "The
DebtSmart Email Newsletter is packed with cutting-edge
strategies for solving credit problems. I highly recommend
it."—Gerri Detweiler, author
of The Ultimate Credit Handbook
|
| "I
received Debtsmart about a month ago
and I love it!!! I learned so much.
Great tips!!! Keep up the good work!"—Vanessa
Keith, Amarillo, TX
|
|
|
|
