Free Excel Debt Reduction Calculator
Hello-
Here’s another free Excel debt reduction calculator I’ve found.
http://www.vertex42.com/Calculators/debt-reduction-calculator.html
You can add it into Microsoft Excel and use it to play off your debt payoff priorities. You can figure out what is the best way to pay off your debts. And if you do not have Excel, you can use it with OpenOffice too.
What is different about this debt calculator is that it promotes the debt snowball strategy. The debt snowball is where you pay the smallest balance off first instead of the highest balance.
The reason why this method is so popular is that it keeps you motivated to pay off your credit card debt.
When you pay off one credit card you can actually see results that you are getting out of debt. You will stay on track and keep going until all your debts are paid off.
This is different from another popular strategy where you start with the highest balance or the highest interest rate first.
You will pay more interest using the debt snowball method but it’s more likely that you will keep to your debt reduction plan because you are seeing results. You are getting a little reward each time you can say you paid off one of your cards.
Check out this free Excel debt reduction calculator and run your numbers and get started paying off your credit card debt. Do it now!
http://www.vertex42.com/Calculators/debt-reduction-calculator.html
Thanks for reading,
-A