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Part 7. Creating a Debt-Reduction Plan

Part 7. Creating a Debt-Reduction Plan

Now that you have a budget set up and have some control over expenses and bills, you're ready to take that financial control a step further: creating a debt reduction plan. Of course, there are several different ways to help you manage your debt, such as the budget you just created. But Microsoft Money's Debt Reduction Planner can help you reduce your debt so you can reach your financial goals—maybe even a little faster than you originally thought. Microsoft Money takes the information you've already entered about all of your accounts and allows you to select the accounts you want to pay off more quickly, add new accounts, and set up a plan that works with your budget. You'll be surprised at how much money you can save just in interest by reducing your debt a little each month. And of course, as with your budget, you can change your plan if your financial situation changes by returning to the Debt Reduction Planner.


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