correct and make in your personal finances that will help you.

Debt is a decision to take responsibility to take a lone to buy some goods or services otherwise we cannot. about taking a lone to be used today and to be paid later. the loan taker must have a sense of responsibility to pay back the loan along with the interest. interest is about paying the cost of the loan which has to be calculated based on the period of time to settle the loan. Loan is not free money but the one who spend must know must pay the money back with the interest which is agreed. one should always think when to use loan and when should not use pay. It is a tool which enables us a Borrowing as a tool to spending tomorrows money today. Example of loan can be student loan to buy car credit card to use items. Loan can be secured from bank or lenders family or friends.

There are different tools which helps one to calculate loan the first is the loan calculator which we can down loan on our mobile. this tool enables us to understand the amount of total loan and the total interest of the loan and payment schedule and loan payment arrangement to settle our loan and interest.

There are three variables amount time and interest rate are variables which we can use in our calculator. the amount is the purchase price for our goods or service let us say car or school what we are paying is the amount of the loan then the time will come in to consideration how long we need to settle our loan then how much interest rate comes in to the consideration. interest is the cost of money which we are using others money and we need to compensate the cost under the title of interest which has to be paid in addition to the amount of the dept. interest rate may increase if we are not settling the loan. if one is not settling on the agreed time period then the interest rate will also increase.

Spread sheet is another tool which shows us the details of calculation particularly when we need to adjust the time and amount it is a good tool to record and calculate the change on the amount of the loan amount and the change in on interest rate and also the time period. what was the amount of the original loan how much was the interest what was the period of time required to settle the loan. over period of time the size of the loan may increase and also settlement can be started. at the mean time additional loan can be secured the interest rate also may be different the time may also be changed. hence how the loan taker can have a track record of a complex scenario. however spread sheet has good advantage as it simplify and manage the overall loan and one can adjust the loan accordingly.

Credit card like visa is another tool which one can buy the items he desires over the limited which is given by the lender also as long as one settles the loan on the given time period their will not be cost of for interest. The loan taker only requires settling the loan amount over agreed time period. one can have more cards hence spread sheet enables to manage the monthly minimum payments and remaining balance as most of the time the payment amount is small, and one can calculate and see payment alternatives. When one missed the monthly payment, it may have to apply to the credit card p that providers that one can get best advice on how to adjust the credit and interest.