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Quicken Debt-Reduction Planner Report

November 18th, 2006 at 01:30 am



According to the debt-reduction planner in Quicken if I continue making total payments on all debts of $1,290.85 each month and snowballing the payments as each debt gets paid off, we can be out of debt in June of 2013. This includes the house. By doing this, instead of making the minimum payments, we will save $45,965.10 in interest.

Personally, I know it can be done sooner and at a greater savings because I did not figure in my husband's profit sharing that we plan to apply to the debt or income tax return money.

9 Responses to “Quicken Debt-Reduction Planner Report”

  1. PRICEPLUS Says:
    1163813571

    Hope for the best and prepare for the worst. Pay the debt down! You have the game plan and now it is time ot execute it! Way to go rduell!!!!

  2. suzanne pacheco Says:
    1163814283

    I don't seem to comprehend

  3. amber Says:
    1163822294

    I agree with priceplus

  4. boomeyers Says:
    1163827569

    I have always wanted to try Quicken, but never have. It just seems so expensive and time consuming. Is it really worth it?
    Congrats on the quick payoff!

  5. rduell Says:
    1163847417

    boomeyers...I've used Quicken ever since we've had a computer. All of ours have come with it already installed. This past year is the first time I've ever paid for it.

    I use it every day. I have it set to let me know 10 days before a bill that I mail needs to be paid and 3 days before one that I just drop off somewhere is due. It makes it super-easy to balance the checkbook. It's just a tool that I've grown accustomed to having, I guess!

    This version that I paid for (2006) has a planner for debt, retirement, college, home purchasing, special purchasing, etc. I haven't used all the features yet.

    I don't find it time-consuming to use, except for the extra time I spend running the planners. But that's because I like too! LOL! And I know it saves me tons of time each month on balancing accounts.

  6. Ima saver Says:
    1163860038

    Good for you rduell!!

  7. Broken Arrow Says:
    1164036723

    Wow, nearly 50k in interest saved? That's a big number to throw around.

    I'd be 110% behind any plans that will save that kind of money!

  8. Aleta Says:
    1164127762

    Which version of quicken do you use? Deluxe or standard. They say that the 2007 edition starts up with 3 windows. One for all of your deposits, 1 for pay-outs, and 1 for savings.

  9. rduell Says:
    1164158805

    Aleta,

    This is Quicken 2006 Deluxe. I haven't checked out the 2007 version, but probably won't buy it. I just got this a few months ago. I guess the smart thing would have been to wait until the newer version was released. Oh well. Will remember that next time.

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