Companion Tools

See the Numbers for Yourself

In the book, I break down exactly what bad credit costs you—and what good financial decisions can build over time. These calculators let you plug in your own numbers and see it for yourself. Because the decisions you make about money right now will echo for decades. Make them count.

“When I went to buy my first real car—a 1998 Buick Park Avenue, $6,500—the interest rate was 13%. I remember sitting in that dealership, signing those papers, and doing the math in my head. I was paying so much money in interest.” Do the math: 13% interest on that $6,500 loan over five years meant roughly $2,374 in interest alone—paying nearly $8,874 total for a $6,500 car.

?The sticker price of the car. Remember, a brand-new car loses 20% of its value the moment you drive it off the lot. A two- or three-year-old car with low miles can save you thousands and still feel new.
?The cash you pay upfront. The more you put down, the less you borrow, and the less interest you pay over the life of the loan. Even an extra $500 down can save you hundreds in interest.
?This is based on your credit score. Good credit (700+) might get you 4–6%. Bad credit can mean 15–20% or higher. That’s the difference between paying $28K and $40K for the same car. Your credit score is money.
?How long you take to pay it off. Longer terms mean lower monthly payments, but way more interest. A 6-year loan costs thousands more than a 4-year loan on the same car. Keep it as short as you can afford.
Monthly Payment
$460
Loan Amount$25,000
Total Interest Paid$2,625
Total Cost of Vehicle$27,625
Principal: $25,000
Interest: $2,625
10% of your payments go to the bank
What Does Your Credit Score Really Cost You?
Slide to any credit score. Watch what happens to the price of this car. Same car. Same loan. The only thing that changes is your credit.
550
Poor
300
Worst 580
Poor 670
Fair 740
Good 850
Best
✅
With Your Rate
4.0% interest
$27,625
$460/mo
VS
❌
Score of 550
18.0% interest
$38,961
$464/mo
Bad credit would cost you $10,737 extra—for the exact same car.
Where Your Money Goes Each Month

This is amortization. Early in your loan, most of your payment goes to interest—not the car. You’re paying the bank before you’re paying yourself.

Interest Principal

“Good credit at 5%: your total cost is $289,800. Bad credit at 8.5%: your total cost is $415,080. That’s $125,280 more over the life of the loan. Read that number again.”

?The purchase price of the home. In Erie, a solid starter home can run $100K–$200K. Focus on what you can actually afford, not what a bank will approve you for. Those are two very different numbers.
?The cash you bring to closing. 20% down avoids PMI (private mortgage insurance)—an extra monthly fee that protects the bank, not you. Even if you can’t hit 20%, every dollar you put down reduces what you borrow and what you pay in interest.
?Your mortgage rate depends on your credit score, the market, and your down payment. Even half a percent difference on a 30-year mortgage can mean tens of thousands of dollars. Shop around—don’t just take the first offer.
?15-year loans have higher monthly payments but save you a massive amount in interest. 30-year loans are easier month to month, but you’ll pay for the house nearly twice over. Run both options here and see the difference.
Monthly Payment
$853
Loan Amount$135,000
Total Interest Paid$172,185
Total Cost of Home$307,185
Principal: $135,000
Interest: $172,185
56% of your payments go to the bank
What Does Your Credit Score Really Cost You?
This is where it gets serious. On a 30-year mortgage, bad credit doesn’t just cost you thousands—it costs you a house worth of money. Slide and see.
550
Poor
300
Worst 580
Poor 670
Fair 740
Good 850
Best
✅
With Your Rate
6.5% interest
$307,185
$853/mo
VS
❌
Score of 550
9.8% interest
$444,290
$1,165/mo
Bad credit would cost you $137,105 extra—for the exact same house.
Where Your Money Goes Each Month

On a 30-year mortgage, you can pay more in interest than the house itself. Look at how much of your early payments go straight to the bank. This is why credit score matters so much.

Interest Principal

“The power of compound interest is real. Money you invest in your 20s is worth exponentially more than money you invest in your 40s. Small decisions. Compounded over time. Big impact.”

?Most people retire between 62 and 67. The longer you work, the more time your money has to grow. Even a few extra years makes a big difference.
?This is money you put into a retirement account like a 401(k) through your job or an IRA you open yourself. Even $50/month matters. If your job matches contributions, that’s free money—always take it.
?This is how much your investments grow each year on average. The stock market has historically returned about 7% per year over long periods. You don’t need to pick stocks—a simple index fund does this for you. Leave this at 7% if you’re not sure.
?If you already have money in a savings account, 401(k), or any investment, put that number here. Starting from zero? That’s fine—most people your age are. The point is to start now.
What You Could Retire With
$578,326
Years of Growth43 years
What You Put In$103,200
What Your Money Earned on Its Own$475,126
Growth vs. Your Contributions82%
What Waiting 10 Years Costs You
If you start at 32 instead of 22:
$264,012
That’s $314,314 less. Time is the most powerful ingredient. Start now.

“Your credit score is your financial reputation. It follows you everywhere—apartments, car lots, job applications. Nobody teaches you this in school, but it’s one of the most important numbers in your life.”

?This is the single biggest factor in your credit score—35% of it. Every late payment hurts. Every on-time payment builds trust. Set up autopay if you can.
?If your credit card limit is $1,000 and your balance is $300, you’re using 30%. Lenders like to see you use less than 30% of what’s available. Under 10% is even better. This is 30% of your score.
?The longer your credit history, the better. This is why you should keep your first credit card open even if you don’t use it much. Closing old accounts shortens your history and can drop your score.
?Lenders like to see you can handle different kinds of credit—like a credit card plus a car loan. You don’t need to go get a loan just for this, but having more than one type helps. This is 10% of your score.
?Every time you apply for a credit card, car loan, or apartment, the lender checks your credit. That’s a “hard inquiry” and it stays on your report for 2 years. Too many in a short time looks desperate to lenders.
Estimated Credit Score Range
650 – 700
Good
Payment History (35%)Good
Credit Utilization (30%)30%
Length of History (15%)1–3 years
Credit Mix (10%)Two types
New Inquiries (10%)None
How to Improve Your Score

“Nobody sits you down after graduation and says, ‘Here’s how to manage a paycheck.’ You get that first real check and it feels like a lot—until rent, food, a car payment, and a phone bill eat it alive. A budget isn’t about restricting yourself. It’s about knowing where your money goes so you can make it work for you.”

Your Monthly Expenses
Money Left Over
$670
You have room to save and invest
Total Income$2,800
Total Expenses$2,130
Expenses as % of Income76%
Where Your Money Goes
The 50/30/20 Guideline
A lot of financial experts recommend this framework as a starting point. It’s not a strict rule—do what works for your situation. The goal is to be intentional about where your money goes.
Needs (50% = $1,200)$1,370
Wants (30% = $720)$190
Savings (20% = $480)$490

Disclaimer: These calculators are provided for educational and illustrative purposes only and do not constitute financial, investment, tax, or legal advice. All results are estimates based on the information you enter and standard mathematical formulas. Actual loan terms, interest rates, and investment returns will vary based on your creditworthiness, lender, market conditions, and other factors. Consult a qualified financial advisor, tax professional, or licensed lender before making any financial decisions. Corey L. Cook and Cook Media LLC are not responsible for any financial decisions made based on these calculators.

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