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Chapter 7. Getting the Most From Your Cr... > How Much Will It Really Cost?

How Much Will It Really Cost?

When you see that snazzy new digital camera, gorgeous widescreen TV, or stylish jacket, it’s easy to just whip out your credit card and buy it. But if you do not have the discipline and ability to pay off your credit card bill in full each month—in other words, if you carry a balance—that item is going to cost you more than what it says on the price tag. Sometimes it will cost a lot more, and knowing what the true cost of a credit card purchase is might give you second thoughts about the purchase.

The Real Cost Calculator

The Real Cost Calculator lets you quickly determine the actual cost of an item charged to your credit card and paid off over time. It also tells you how long it will take to pay off. Take a look at the calculator in Figure 7.1.


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