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Saturday, October 3, 2009

Software You Can Use to Get Out of Debt Software You Can Use to Become Debt Free The Best Software for Getting Out of Debt The Best Software Programs for Getting Out of Debt

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!

Success leaves clues. There's no doubt about this. What this means for you is that people who have successfully gotten out of debt have done specific things and used specific techniques to find their escape from debt. If you do the same things they did to get out of debt, you can expect to be able to get out of debt as well.

One of the things that people who get out of debt have usually done is to make a debt payoff plan, and then to work that plan. If you've created a plan to get out of debt, the right software will help you stick to your plan.

The best software for getting out of debt is called budgeting software. I like to use a spreadsheet program known as "You Need A Budget". It has done so much to help me get out of debt. I credit my success in getting out of debt to my budgeting spreadsheet program.

There are plenty of other excellent budgeting software programs. One of the "big daddies" of budgeting is called Mvelopes Personal, which is a web-based budgeting program that lets you work with your budget from almost anywhere that has an Internet connection. Mvelopes also looks at your bank accounts to automatically enter transactions into your budget.

One free budgeting program is Mint. Its also a web-based budgeting system, but it doesn't cost anything to use. One unique feature of Mint is that it compares the rates you're paying on your debt to offers from credit card companies. If it finds a better rate for you, it will let you know, and it could end up saving you hundreds of dollars while you're working to pay off your debt. Similarly, if it finds a bank account that pays a higher interest rate than yours, it will let you know, giving you the potential of earning much more money on your savings.

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.

Intuit's Quicken and Microsoft's Money are both programs that can help you so create a budget and manage the rest of your finances. Both of these programs have related capabilities, so whichever one you decide to use, they'll both do about the same thing. One of the complaints I have about these two programs is that they do too much. They have so many features that you will probably be distracted from your plan to get out of debt.

My advice to you is to stay with a simple budgeting software program. The right budgeting program will let you track your debts, expenses, and income. Don't make the error of using a complicated financial program that has too many bells and whistles. Even a simple spreadsheet can help you manage your money, budget I recommend that you use an established budgeting system that has a history of getting people out of debt.

No matter what software you use to help you to get out of debt, begin today. Make sure that you use the same software until you're totally out of debt. If you're consistent in using your software, every day or every week, it will help you to quickly get out of debt. - 23199

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