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Saturday, October 3, 2009

The Best Debt Free Software

By Sean Payne

If you're stuck with loads of debt, you may have noticed that many of those who get out of debt tend to use some kind of financial software. There's a good reason for them to do so: It works like crazy!

A wise man will tell you that "success leaves clues". What this means is that people who have experienced success in getting out of debt have used specific techniques and methods to get out of debt, and that if you do the same things they've some, you'll get out of debt as well.

One of the things that successful people do to get out of debt is making a debt payoff plan, and then working that plan. Once you've developed a plan for getting out of debt, the right debt software will help you stick to that plan.

My favorite software for getting out of debt is budgeting software. I personally use an Excel spreadsheet called You Need A Budget, and it has done wonders for helping me to get out of debt. I attribute all of my success in paying off my debts to the fact that I use budgeting software.

There are many other great budgeting software programs. One popular program, known as Mvelopes Personal, is a web-based budgeting system that allows you to access your budget from anywhere that has Internet access. It also access your bank accounts to automatically enter your purchases into your budget.

One free budgeting system that I've tried out is Mint. It's another web-based budgeting system that won't cost you a cent to use. A great feature of Mint that is great for you is that it searches credit card companies for lower rates than you're already paying. If it finds a good offer, Mint will let you know, potentially saving you hundreds or thousands of dollars in interest. Mint does the same thing in reverse for bank accounts. If it finds a higher-interest account, it lets you know, potentially earning you hundreds of dollars more in interest.

In addition to budgeting programs, there are plenty of other debt reduction software programs that will help you follow your plan for getting out of debt.

Microsoft Money is another program that can help you manage a budget and the rest of your finances. Another program, Intuit Quicken, is similar to Microsoft Money, so the choice of which to use is up to you, since they both do most of the same things. My biggest complaint about Money and Quicken is that they actually do too much. They have so many functions and features that you will likely be distracted from your quest to get out of debt.

My advice is to stick with a simple budgeting program that helps you track your expenses, income, and debts. don't get caught up in complicated software that does more than you need it to. Even a spreadsheet that you create can help, but I recommend that you use software that has a good reputation of helping others to get out of debt.

Regardless of which software you use to help you get out of debt, start today, and continue to use the same software until you get out of debt. Be consistent in using it, daily or weekly depending on your situation, and your software program will help you to quickly get out of debt. - 23208

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