all of these factors are important to consider except "taxes paid on interest" because the banking institution has no control over the tax rate and how much you would be responsible for paying at the end of the year. tax rates are set by federal and state governments and would be the same rate no matter which savings account you chose.
- fixed expenses
- recordings of spending and track progress
- support from management
- an understanding of your debt and current income
interest rate is one of the biggest factors in calculating finance charges because the interest rate adds a percentage of money not already spent to pay towards the credit cards if not paid in full each month. each month interest adds on to the payment and continues at the rate of percentage issued until the money is paid off, so this is a big factor because it always fluxuates.