Stoozing Calculator

A question about : Stoozing Calculator

Hi folks,

As part of the update of the Stoozing: Make Free Cash from Credit Cards article, we've added a calculator to make working out your wonderful profits easier


Stoozing Calculator

Hopefully this will be useful for some of you

Dan

Best answers:

• Much better go here:
  https://www.whatsthecost.com/stoozing.aspx?country=uk
• There is also a new one here https://www.stoozing.com/calc.htm
  Clariman
• Also pleased to announce a new Slow Stoozing Calculator (Slow Stoozing being another term for what Martin Lewis calls the "Simply Spend" method i.e. stoozing using 0% on purchases cards)
  https://www.stoozing.com/slowcalc
• Hi Dan,
  I have a detailed stoozing calculator in Excel.
  I can't post attachments so could not attach it to a post on this forum.
  How can I get it to you?
  I did send it it martin at moneysavingexpert dot com and got an automated reply that it will unlikely be read.
  Cheers,
  Shafiq
• There is an error on this calculator as the net interest does not decrease every month and it should as the amount left in the bank is decreasing after making a minimum payment.
  Say you borrowed 10000 and the gross interest rate you get is 12% then the first month (12%/12months=1%/mth), you would get 100 and not 101.92 as per the calculator. 12% gross interest is 12.6825% AER as it is compounded every month.
  Cheers,
  Shafiq
• This one also seems to have an error so not sure if the interest payable is being rounded down and interest received is rounded up as the amount stoozed is a bit higher.
  In any case, it is the most accurate one I could see.
  Shafiq
• This one is even more accurate.
• HI, with the current financial crisis which is the best savings account for a stoozing pot??
  Cheers
• Under the mattress!
• I've made some enhancements to the stoozing calculators on the Official Stoozing Website. They now enable you to copy and paste you anticipated profit results into a post on MSE so that you can share them with others. (Also supports copy and pasting into the Stoozing website's forum and The Motley Fool discussion forums).
  Clariman
• Here's another stoozing calculator:-
  https://calc-calc-calc.net/get/calc/Stoozing/
  This one tells you how much you need to put in the savings a/c at the start just to cover all future repayments on the card, giving the "upfront" stoozing profit (it also gives the amount that would be left in the savings a/c at the end if the entire balance transfer is put in at the start).
  It seems to be able to allow for different interest rates on the balance transfer and the fee (I understand some 0% transfer cards charge purchase interest rate on the fee?).
  BTW, it looks to me like the calculator at 'whats-the-cost' uses a twelfth of the interest rate entered each month, so the true effective annual rate is higher than that entered (due to compounding). Oh, and the calculator at 'stoozing.com' seems to work out basic rate tax incorrectly?!
• Hi Dave
  It isn't working for me. Using Firefox the layout doesn't work - it has overlapping boxes. Under IE, either there are some errors in the calculation or I am not using it correctly because it is predicting that I would make over £1500 on a 6 months Stooz on £10,000. It should be nearer £25.
  Quote:
• Hi dave
  Thanks for your reply. My understanding of the way most savings accounts operate is as follows (and this assumption is built into the stoozing.com calculator)
• Assumption - interest is paid annually
• Although interest is accrued monthly (and the calculator caters for that), the annually paid interest gets credited once per year and the tax is calculated on that amount, so tax isn't taken off the monthly accrued interest.
• Therefore, I take off the tax from the interest at the end of the intro period

An account that pays interest monthly would have the tax taken off monthly.
Clariman