Should I consolidate my debts?
Existing debts
Amount owed
Monthly payment
Months
left
Auto loan 1
$
$
Auto loan 2
$
$
Boat/RV loans
$
$
Education
$
$
Other loans
$
$
Amount owed
Interest rate
Credit card 1
$
%
Credit card 2
$
%
Credit card 3
$
%
Other account 1
$
%
Other account 2
$
%
Consolidation loan
Home equity
loan
Home equity
line of credit
Personal
loan
Personal line of credit
Interest rate
%
Desired months to pay off
Closing costs
$
Discount points
%
Your
savings rate
%
Your state + federal
tax rate
%
Note: You may be better off not including loans which will be paid off sooner than your proposed consolidation loan, even if their interest rate is higher than the consolidation loan's rate.
