I’ve been working hard to pay down my car loan in half the time, and now I found some great software to keep me on track. Here’s my review and experience so far.
Trying a New Program
It’s specifically designed for debt management, like paying off credit cards and consumer loans. I really like it.
The interface is easy to use, and linking my auto loan only took a few minutes. Here are several awesome options I like the best about the program…
- Progress graphs
- Daily paydown and interest figures
- Debt-free timeline
- Progress on each account/goal
- Total interest saved with extra pmts
Pay Off Debt Goal – $8,359.77
Here’s a screenshot after I input my information and started using the software.
I’ve circled the total amount of interest savings versus just paying minimum payments. That in itself is very motivating!
Progress and Payments
I started making double payments every month, and any extra money or get any bonuses I get I will put that towards the loan as well. The total payment is more than my rent…Lol. That’s kinda tragic.
- Semi-weekly double payment – $630
At this rate, it will take me until
the end of 2012 July 2012 to complete this goal.
New Loan Balance – $7,757.50
I like the little speed monitor that shows my repayment is Fast! One step closer to becoming debt free. If you’re interested in finding out more about the ReadyForZero software click here to see how it all works.