When it comes to getting out of debt, the right software can make a world of difference. Some people manage their debt reduction efforts with something as simple as a computer spreadsheet. Others use full blown financial management software packages. You can spend a little or a lot on your debt reduction software and still end up at the same place: out of debt. What you may not have known, though, is that some of the best debt reduction software is free. One example, Quicken Online, is a full blown financial software package that recently became free to use.
Another, known as PearBudget, is a free Excel spreadsheet that functions just as well as a much more expensive budgeting program. For those who love Excel spreadsheets, PearBudget is an excellent choice. Like any Excel spreadsheet, PearBudget can be easily customized to suit you, if you know a little bit about Excel spreadsheet programming. If
Microsoft Office Accounting Express 2007 is, amazingly enough, also free. This software package is targeted at small businesses so it may be more than you need to manage your debt elimination efforts, but give it a try anyway.
Yodlee MoneyCenter was originally an account aggregator, meaning that it compiled all of your financial account information into one place to make it easier to read. Now, Yodlee offers the ability to classify your spending into categories, which can be used to help you make a budget. I’ve personally used Yodlee and enjoyed it.
Mint.com uses Yodlee’s account aggregation abilities, along with its own easy-to-use budgeting front end to make a real debt reduction powerhouse. In addition, Mint.com partners with many different credit card and financial institutions to offer you better alternatives to the credit cards, bank accounts, and other financial accounts that you already have. This can sometimes save you hundreds of dollars.
Regardless of which debt reduction software you use, it has to work for you. Sometimes the best debt reduction software for you will be the high end financial software package. Sometimes the best debt reduction software will be the cheapest. It all depends on your personality and habits when it comes to spending and budgeting.
The key to finding the right debt reduction software for you is to pick one, try it out for a while, and see if it has all the features that you want. If it doesn’t, pick another, and try it out for a while. Soon enough, you’ll find one that works for you.
Another way to find the best software for you is to read reviews on the Internet. Make sure to read unbiased reviews, not just the ones shown on the sales page for that product.
It can’t hurt to try the free software first. It has worked for plenty of people before you, and may work for you as well. At least this way you won’t be out any money if it doesn’t work for you.