One of the most common strategies for debt reduction is the "snowball method". It is very effective. I've used this method before with success. Thanks to the site What's the Cost? and their new snowball calculator, you can have a date for your debt's annihilation!
The Snowball calculator can be used by anyone, even the tech challenged. To the right of the side of the site, you have three flags. One can change the currency of the calculations by clicking on a flag. They currently support Ameriican Dollars, British Pounds and the EuroDollar.
Here's how you use the snowball calculator:
1. You choos the correct currency.
2. You enter how mant debts you intend to enter.
3. You enter the amount you intend to allocate to your debt reduction.
4. You select which way you want to attack your debt. They currently have two ways: by interest rate or by balance.
Once you finish this process, you can enter the balance of your first debt. It is so detailed, it even has the percentage rate. The date of your debt freedom can easily be displayed on your blog. This is an excellent tool for every debt reduction blogger!
I'm gald that I was asked to review this site. I find that it is user-friendly, has an organized home page and provides a great service...all for FREE! Use this great tool, to help you get out of debt! It's a great way to stay motivated.
Thanks for The ReviewMe Opportunity! I'm glad that I was made aware of this site!