(PRWEB) January 01, 2014
The new round of updates continues for acalculator.com as the website recently added some new financial calculators for Australian users. One of the most recently added tools is the Roll-Down Your Credit Card Debt Calculator. The calculator is introduced to help the users cope with their credit card debt and avoid financial problems arising from it. The newly added tool, according to the spokesperson for acalculator.com, is highly useful in the current economic environment in the country.
Speaking of the credit card debt situation in Australia, the spokesperson suggested that proper measures on an individual level are required to keep distress at bay. The best measure, he added, is to roll-down and pay-off the debt as soon as possible. “Australian credit card debt has elevated 71 percent in the last five years. It won’t be long before we face the same situation faced by the majority of western economies during the past few years. The calculator we have just added presents the users with a roll-down strategy and helps them make a calculated pay-off plan for their credit debt.”
Further explaining the principles of the Roll-down Your Credit Card Debt Calculator, the spokesperson stated that the tool encouraged the users to pay-off the card with the highest interest rate first. Once the card is completely paid off, the monthly payment of that card can be applied to the card that has the highest interest rate among the remaining ones. The spokesperson suggests repeating the process until all the cards have been paid off.
The calculator allows the users to insert values for a maximum of 10 cards at a time. For reach card, the user has to enter simple information such as the additional roll-down amount. “The calculator not only helps the users plan a roll-down strategy but also helps them calculate the amount they can save through the roll-down plan,” the spokesperson added.
The results of the calculations are displayed in the form of a chart as well as a graph that depicts the current balance and the roll-down balance. These multiple methods of display are chosen to keep the calculator relevant and easy to use for users with very basic understanding in this regard.
Although the Roll-Down Your Credit Card Debt Calculator for Australia is new to the website, acalculator.com already offers a similar tool for the US users. Both the tools are completely free to use. For more information, please visit http://www.acalculator.com.
Acalculator.com is a leading financial help website that offers budgeting and financial calculation tools for free. The website currently features 300 different calculators ranging from mortgage calculators to long term care calculators. The website caters to users from the USA, Canada and Australia by providing them essential tools to help them plan their financial future. To contact them, please use the following details: