Dan_Aykroyd

Hello!

As topic, I wanted to know if there was an app that would allow me to do that. I don't mean using SPB Finance, Cash Organizer, etc.

I never knew (or bother to) as how other countries use Credit Cards, but here you can buy a $200.00 thing in 1,2,3...X payments (let's say 3) and you would pay $200.00 / 3 per month.

So the app I'm looking for is just for that; it'd let me input a thing I bought, in how many payments I agreed, and then it'd divide that and show me in future months how much I'll have to pay.

I've used excel before, but it got pretty hard to mantain...

THanks and hope you got me!

solara

I'm assuming there's interest involved in this payment agreement?

I guess you could use something like MortgageCalc: http://members.optusnet.com.au/~gm_fisher/index.htm

In the Loan calculator, you can enter loan amount, term (months, years), and interest rate, and it'll tell you how much u need to pay each month. You could always enter 0% for interest if there's no interest involved.

Dan_Aykroyd

Oh; then I should go over to the path of mortgage loans... :)

Gonna try this app! Are there others to consider too? By the way, I don't know if I can 'simulate' my scenario in this app, but it'd be great to let it track 2 credit cards...!

THanks solara

PS: Just for the sake of curiosity... how do you use credit cards out there? Isn't as I wrote? You just buy with them and then at the end of the month you pay the total amount, and that's just it?

solara

Credit cards over in U.S. works like this - you buy something at X amount. At the end of the month, you can elect to pay the entire amount or to pay a minimum amount ($10 or $20 usually) or to pay any amount in-between.

If you don't pay the entire amount off, interest is accured on the remaining balance. And interest is quite high for credit cards. Credit card companies love people who pay them back, but who don't pay the entire amount so that they can charge interest.

Debit card works the same except you are expected to pay the entire amount off at the end of the month. Some debit cards are linked directly to your checking account, so it's like a cash card. You pay for something and it's automatically deducted from your checking account at the moment of purchase.

Dan_Aykroyd

Yes... it works pretty much as here... :)

We too got a 'Minimum Amount' to pay, and if you pay less than the total amount you should pay that month, you'll carry interests to the next one, and so on.

Debit card here is only what you call a 'cash card'; if deducts instantly from the account.

Anyway.. back in topic... :) do you know any other apps that will calculate that? Just so I can try more than one...

Thanks!

AKAJohnDoe

My formula is very simple and requires no software at all. How much is the total bill? That is how much I pay.

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Dan_Aykroyd

Yes John... but that's not the point. As I said, here I can choose to pay, let's say, 3 months the 'X' stuff and 6 the 'Y' stuff.

So this app would let me see (considering that there are many things I've bought: X, Y, Z, A, B, C... etc; each with it's own amount of 'quotes') how much will I have to pay on Feb, how much on March, etc....

AKAJohnDoe

Originally Posted by Dan_Aykroyd

Yes John... but that's not the point. As I said, here I can choose to pay, let's say, 3 months the 'X' stuff and 6 the 'Y' stuff. So this app would let me see (considering that there are many things I've bought: X, Y, Z, A, B, C... etc; each with it's own amount of 'quotes') how much will I have to pay on Feb, how much on March, etc....

There are many variables, starting with interest rate, continuing on to method of calculation, and through to the grace period and when charges begin accruing; from date of purchase or from billing cycle. Add to that the complexities of cash advances, usually accruing interest from day 1, and the variable rates based on outstanding balance, or those tied to some index, and you're pretty much looking at a custom app for each card that could change at the whim of the card issuer changing their policies.

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satish_appasani

You can try to use Pocket Excel for this until you find a suitable software.

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Satish
Hyderabad
India