Skip to main content
It looks like you're using Internet Explorer 11 or older. This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. If you continue with this browser, you may see unexpected results.

Personal Finance: Borrowing/Debt

Books on Managing Debt

Additional Resources

Credit Card Debt Explained

While the math shown in this video may not be perfect, the effect of interest on debt when you only make minimum payments is well demonstrated! By my calculations it would take 24 1/2 years to be debt free and you would end up paying $31,392.26 in interest payments! Now if you could manage to raise your monthly payments to $150 each month (only an extra $8 a month) this would cut the time down to 16 years and the interest payment to $18,409.08! Still not fun, but much better than the alternative.

Contact Us

4000 Dupont Circle
Louisville, KY 40207
Ph: (502) 447-1000
Ph: (800) 264-1799

2222 Wendell Ave.
Louisville, KY 40205
Ph: (502) 456-6773
Text: 502-200-1864

2355 Harrodsburg Road
Lexington, KY 40504
Ph: (859) 514-3359