subject: Credit Clean Up with a Spreadsheet [print this page] Credit Clean Up with a Spreadsheet Credit Clean Up with a Spreadsheet
A good spreadsheet can be a great tool in your effort to reduce or eliminate your debt over time. Using a spreadsheet helps to keep you on track with your debt reduction plan by allowing you to enter all purchases and payments into the spreadsheet where the information can be assimilated and presented to you in a way that is easily understood. Taking the time to do so will reap great rewards over time and result in a good credit clean up.
One obvious advantage to using a debt reduction spreadsheet is being able to see your progress in reducing your debt over time. This progress will give you encouragement in sticking to your debt reduction plan. However, keeping a debt reduction spreadsheet does require attention to detail and effort on your part. The spreadsheet will only be able to give you correct figures if you give the spreadsheet the correct information necessary to do the calculations.
There are different ways in which spreadsheets help you focus your efforts. One of the most common types of spreadsheets helps you pay off one debt first before taking that extra money and applying it to your next debt. This cycle continues until your larger debts have not just the original payment being applied, but also the payments from previous debts being applied. Doing this over time is one of the most proven ways in which so many Americans have been able to dramatically reduce or eliminate debt.
The ultimate point of any debt reduction spreadsheet is to help you gain a better financial footing in your life. This is only one tool in the battle against debt. However, this is among the most important of the tools you may decide to make a part of your effort to reduce or eliminate your debt. Freedom from high debt is one of the greatest experiences one can have in life. Take the time to work your way toward this goal and a better way of life.
