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About Debtinator
Everybody always tells you that you should get out of debt. Now. Fast. As fast as you can. Think of the money you’ll save!
But…realistically? So what. Talk, talk, talk. You’ve got bills to pay. You’ve got a life to live! You have expenses. Sure,
you’ll try and send the occasional $50 to your student loan on occasion, when you can. But if you happen to miss a few of those, well,
what’s the harm? It’ll be paid off eventually, right?
Debtinator handles all of the details for you. You tell it your income. You tell it your expenses. You tell it your debts, and everything
about them. And Debtinator tells you how to re-structure your money and pay them off as fast as possible. The savings can be huge. Let’s say
you earn $52,000/year, and have a few expenses (rent, gas, food). And you have a credit card with a $5,000 balance, a 15% interest rate, and
a required monthly payment of $200.
Pay only the minimum, and you’ll be paying it off for the next 2 1/2 years and send $862.07 in interest!
Or, you can punch it all into Debtinator, pay the thing off in 3 months, and only spend $92.32. You just saved $769.75!
That $15.00 registration fee is looking better all the time, isn’t it?
Debtinator doesn’t judge, it doesn’t care about your lifestyle, it doesn’t tell you where to put your money. A lot of debt repayment
schemes want you to make sacrifices. “If you just spend $25 less per month on dinner, you’ll save thousands in interest!” Sure, that’s
awesome! If you want to do that, please do. It will definitely help.
But Debtinator doesn’t require you to do that. All it cares about is how much money you have coming in, and how much money you have
going out. You tell it where you want it to go, and then Debtinator takes care of it for you. Then, once your bills are paid, it re-shuffles
all the excess money you have and uses that to pay down your bills.
Say your monthly income is $2,500. Rent is $500. You budget $300 for food. Household expenses (electricity, water, gas) are another $200.
Car expenses (maintenance, gas) are another $150. Entertainment (movies, clothes, dinner) is another $100. And that credit card up there
has a $200/month minimum. That’s $1,450 you need to get by (including fun things!). But you’re bringing in $2,500, so you have $1,050 unaccounted
for.
It’s amazing how quick that extra money can disappear. Go out to eat a few more times, buy a few more DVDs, and it’s gone. Yeah, even that
extra $1,050 that you don’t need. You probably didn’t even notice you had it or when it’s gone. That’s bad. Debtinator keeps track of it for
you. It uses that extra money and re-allocates it as desired to pay down your debts lickety split. |
