Debt Reduction Tools And Calculators

For those who are ready to get our of debt, here’s a list of debt reduction resources –

Debt Snowball Calculator over at What’s The Cost – This free online tool will help you quickly create a debt repayment plan.

iPhone and iPod Touch Debt Snowball Application – Created by Blunt Money, this application, which sells for $2.99, will help you create a debt snowball using your iPhone or iPod Touch.

Debt Reduction Guide – I created this step-by-step guide to show folks how my wife and I got out of debt.  The guide is available online – and you can also download a copy of it as a free E-Book.  It’s easy to read and free to share.

When Will You Be Debt Free? – This calculator from CNN Money is very simple to use.  Simply enter your current credit card balances, your interest rates, your minimum payments, and the date you want to be debt free.  The calculator will calculate how much extra you need to pay, each month, to achieve your goal.

Microsoft Excel or OpenOffice Calc Debt Reduction Calculator – If you prefer to work with Word or Open Office, here’s a free debt reduction spreadsheet.

Mortgage Payoff Calculator – I love all of the calculators over at DinkyTown.  This one will help you calculate the impact of extra mortgage payments.

Calculating Average Daily Balance Spreadsheet – I created this spreadsheet so that I could calculate how the timing of payments determines the amount of interest charged.  The spreadsheet works Microsoft Excel or OpenOffice Calc.

These are just a few of the debt reduction resources I’ve found (or created) over the past few years.  If you have a resource that you think would be of value to others, leave a comment and let me know about it.  (Obvious spam comments will be deleted.)