Strategic debt management for medical professionals.
Dr. Sharma carries an $18,000 balance across three credit cards with an average APR of 21%. Juggling her practice's finances, substantial student loan payments, and retirement contributions, she struggles to prioritize aggressive credit card debt repayment, leading to accruing interest and hindering her overall financial goals. She also wants to buy new equipment for her practice.
Using the Credit Card Payment Calculator, Dr. Sharma determined that by increasing her monthly payments by $500 across all three cards, she could eliminate her debt in just under 2 years, saving approximately $3,500 in interest. The calculator helped visualize the impact of different payment strategies and prioritize the highest-interest cards first.
Dr. Sharma input her credit card balances, APRs, and desired repayment timelines into the Credit Card Payment Calculator to generate a customized payment plan. The calculator's intuitive interface allowed for easy adjustments and scenario planning.
$3,500 in interest savings plus increased cash flow for practice improvements.
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