Debt management can be complicated work. With online tools, the process becomes much easier. Here are some resources which may help you to manage your debt more effectively and efficiently.
APR Calculator:
You need: principal, additional cost, interest rate, and number of months over which you will repay the loan.
Calculates: payments, interest paid, principal paid, and balance for each month.
http://banking.about.com/library/calculators/bl_APR_calculator_load.htm
The Loan Affordability Calculator:
You need: interest tare, loan duration, and maximum monthly payment.
Calculates: loan affordability & loan affordability nearby monthly payments.
http://www.moneyeconomics.com/Calculators-and-Tools/Can-You-Afford-It-The-Loan-Affordability-Calculator
The Loan Payment Calculator (Credit Card, Car Loan, etc.):
You need: loan balance, interest rate, and loan repayment goal (months).
Calculates: monthly payment & monthly payment for nearby repayment terms.
http://www.moneyeconomics.com/Calculators-and-Tools/The-Loan-Repayment-Calculator
Free online money management tools:
The top three free money management tools are Quicken, Mint, and Microsoft Money.
Quicken (http://quicken.intuit.com/)
Quicken Online is completely free. The program will update your bank account, credit card transactions, and other financial accounts every night. Users are able to create and track their personal budget while protecting financial data with sophisticated security technology. It can provide bill reminders through text messaging and email as well. It can also let you view transaction details, invoices, and account balances anywhere there is an internet connection. Graphs and charts are shown for an easy analysis of expenses and spending habits.
However, the free Quicken Online loses some features of the charged Quicken desktop software. For example, it does not allow data to be exported or support investment tracking, nor does it allow integration with TurboTax. Despite some setbacks, Quicken Online remains one of the top free money management tools.
Mint.com (http://www.mint.com/)
The main goal of Mint is to let you handle your current financial situation from your spending to your bank balance in a single portal. It does not attempt to act as complete money management application. One of the greatest benefits of this software is that it consolidates all financial data. There is no need to visit various credit card and bank websites to access the same data. Alerts will also be given if there had been any suspicious activity in any financial account within Mint. Because Mint supports over 3,000 banking and credit card institutions, there is high probability that your bank is supported.
Microsoft Money (https://www.microsoft.com/money/default.mspx)
Unlike Mint and Quicken Online, Microsoft Money is not really free but it is affordable to most users. Microsoft Money can help you keep track of everything from day-to-day expenses to your investments. The software is rich in features that help in debt management, investments, and many more. This software can also help a lot in budgeting especially if you are willing to enter accurate information about your income and expenses. It takes care of the smallest details so you’ll know what areas you should cut back on.
