Do you have an effective debt repayment plan in place?
Managing debt is never easy, especially for students and recent graduates, many of whom are financially inexperienced. If getting a handle on your debt load is one of your 2013 resolutions, you’re in luck.
ReadyForZero is a free service that aggregates and tracks all of your debts and creates a personalized plan for repayment to get you out of the hole as quickly as possible.
This debt payoff software is built on four major points: Plan, Pay, Track, and then Relax.
You input all of your debts, interest rates, payments, and accounts. The company helps you put together a plan to pay off that debt as quickly as possible and then to track your progress.
To help visualize your path to success, you get a page with sliders where you can set how much per month you want
to pay or a deadline for when you want to be out of debt. As you move those
sliders around, numbers change automatically, showing you the effects that your
choices might have.
You can go once step further, if you like. Once you have the plan set up you can send payments directly to specific creditors (not, as yet, in Canada, however).
Do you have a debt repayment plan? Back of the envelope or have you used some sort agreegation tool to help get organized?
By Gordon Powers, MSN Money
Posted by: Elizabeth | Jan 7, 2022 5:04:52 PM
An outstanding share! I have just forwarded this onto a coworker who has been doing a little homework on this. And he actually bought me lunch because I stumbled upon it for him... lol. So let me reword this.... Thank YOU for the meal!! But yeah, thanx for spending time to talk about this matter here on your website.
Posted by: Dr. J. Knight | Jan 7, 2022 5:57:06 PM
"Managing debt is never easy"...?? I cannot disagree more. Debt is very easy to manage. When I was a student, and long afterwards, I managed it without any experience nor special knowledge, other than the most basic mathematics. It is all self control. There are no excuses, period. What is most ironic is that now, in my 50s, I am independently wealthy, yet everyone I know who is struggling and complaining about how poor they are have tons of "toys".... big SUVs, snowmobiles, boats, big F**king screen TVs, home theaters, iPods, and on and on.There was a time during each holiday season that I used to deliver Christmas hampers to the supposedly poor, but got sick and tired of delivering these when I saw that so many lived much better that I do, and my family income is $420,000 per year.
Posted by: Mr. Negative | Jan 8, 2022 8:16:05 AM
The best way to manage debt is to try and avoid it at all costs. Debt = profits for the lenders and more profits as long as you can't pay them off. If you can't afford to buy it......don't.