Financial Planning

The Real Cost of Your Debt

Written by Mint.com
Published Oct 6, 2010
1 min read
The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service.

The majority of people who walk, talk and breathe also carry debt. Whether it’s a mortgage, a student loan, a car loan — or the good (bad) old credit card debt, most Americans at some point in their lives borrow. And when that time comes for you, it pays off — literally — to understand how much that debt truly costs you. That means you shouldn’t just look at your monthly payment or the original amount you’ve borrowed. Do the math, and you may realize that the type of loan you are pitched may not best serve your needs — or that, after all, the cost of that loan doesn’t justify your need for the product you are planning to purchase with it. In this infographic, new credit-management website CreditSesame.com shows you, with specific examples, the potential true cost of the most common types of consumer debt.

The Real Cost of Your Debt provided by CreditSesame.com.