debt reduction planner

I’m reading a (terrific!) book called Miserly Moms. It makes reference to a debt planner located here…

http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp

… and I must say, this is the best debt planner I’ve ever seen! It is a simple way to plug in all your debts and see what kind of variations you can make in order to pay it all down more quickly. This is the kind of calculator that we searched for but never found when we were walking people through the Money Merge Account program. Seriously, this is a great calculator! You’ve got to try it.

Note: It says that it’s for credit card debt, but it really doesn’t matter; you can include any time of debt. If you’re familiar with Dave Ramsey or Crown Financial, the Fixed Payment option works perfectly with what they call the snowball effect.

I am enamored with this thing. It is a number-cruncher’s dream come true!

Published in: on March 8, 2011 at 4:10 pm  Comments (2)