http://moneytrackin.com http://moneytrackin.comhttp://moneytrackin.com/logo.gif The free online tool to regain control of your financial life Fri, 25 May 2012 12:09:16 +0200 http://moneytrackin.com/ en http://www.moneytrackin.com/en/tip/always-do-the-math http://www.moneytrackin.com/en/tip/always-do-the-math Wed, 04 Jan 2012 16:01:46 +0100 nata_n_ricky http://www.moneytrackin.com/en/tip/always-do-the-math It's not always best to pay off the debt with the biggest interest. The amount of debt also plays a factor since $20,000 at 10% will be bigger monthly payments and more interest than 5,000 at 20%. So you need to know the interest of each credit card and the balance and then calculate the interest on each amount of debt. Then calculate how much interest you will have to pay after you make a payment. See which option has you paying the least amount of interest. In the end interest is like throwing your money out the window of a moving car. So if you're paying $166 a month that is like handing people walking by on the street your hard earned money.

]]> http://www.moneytrackin.com/en/tip/how-to-pay-off-credit-card-debt http://www.moneytrackin.com/en/tip/how-to-pay-off-credit-card-debt Tue, 09 Mar 2010 23:32:27 +0100 Cherrysweetdeal http://www.moneytrackin.com/en/tip/how-to-pay-off-credit-card-debt Put 10% of your paycheck towards the credit card payment each month. That way you put the money away automatically before you have a chance to spend it.

]]> http://www.moneytrackin.com/en/tip/youve-seen-it-on-bank-commercials http://www.moneytrackin.com/en/tip/youve-seen-it-on-bank-commercials Thu, 16 Oct 2008 14:53:03 +0200 fbrg72 http://www.moneytrackin.com/en/tip/youve-seen-it-on-bank-commercials Try rounding each transaction up to the nearest dollar, and at the end of whatever time period you choose, reconcille your account. Then use the difference you have to pay on an outstanding debt.

]]> http://www.moneytrackin.com/en/tip/saving-vs-paying-off-debt http://www.moneytrackin.com/en/tip/saving-vs-paying-off-debt Mon, 11 Aug 2008 01:18:30 +0200 legal_larry http://www.moneytrackin.com/en/tip/saving-vs-paying-off-debt In general it is better to pay off debt first. The reason being that credit compounds either for or against you, and it is better to have it compounding for you. When you pay off debt first, you will be saving yourself money to later invest.

]]> http://www.moneytrackin.com/en/tip/debt-favorite-tip-and-sites http://www.moneytrackin.com/en/tip/debt-favorite-tip-and-sites Tue, 25 Mar 2008 22:06:17 +0100 jenspins http://www.moneytrackin.com/en/tip/debt-favorite-tip-and-sites Many of you probably already know this, but debt is the biggest obstacle to becoming financially stable. I read a lot of online blogs and found the debt snowball to be the best piece of advice. Tackle debts one at a time from the smallest to largest (snowball effect). You can then move onto the next one and spend the payments you were making on the previous debt to pay more on the next. There are numerous great sites about this technique including criticisms (like how you should be tackleing the debt with the largest apr first...) but it's all good stuff to read and think about. A few good sites: www.getrichslowly.org/ zenhabits.net/ zenhabits.net is actually how I found moneytrackin.com

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