Debt Management with Dueminder.com

I found another great tool other than Mint.com to use on my quest to reduce debt and build wealth. Dueminder.com is a fantastic Free Debt Management tool that that I have begun using. Once signed up to use Dueminder.com I was able to set up a Debt Reduction plan in their Debt Manager and add my debts (Loans, Credit Cards, and Mortgage). The Debt Manager works by setting up a debt reduction plan and adding your monthly commitment to the debt (the maximum amount you can afford to pay every month towards your debt) and then you choose your payoff strategy. Once your plan is created you begin to create "accounts" in order to add your debts such as your student loan from Citi, then your mortgage, then your Visa credit card debt to your plan.

Once you have everythign set up Dueminder.com can begin to shine for you. Depending on your pay off plan Dueminder.com chooses the best route to becoming debt free as fast as possible. Dueminder.com figures out the amount of your monthly payments per account to best way reduce your debt for each account and even calculates how much money you will save by following your debt management plan. It really couldn't be easier to figure out the best way to get out of debt quickly than with Dueminder.com. If things change you can modify your accounts and debt reduction plan at any time allowing the advice to always stay custom tailored to your needs and your debt reduction goal. You can even generate a recommended payment schedule so you will never miss or make a late account payment again. Laying out your future payments and due dates for each account is a great way to establish debt reduction and really help you snowball your debt problems. Through the use of easy to follow payment schedules, amount calculations, and even visual displays of how your guided payments will reduce your debt in the future debt management has never been easier. I have yet to find a better tool for debt management than Dueminder.com, and the best part is that it's free.