When I am getting my clients approved for a mortgage, the most common question is how much can we afford? And when I am looking at the debt ratios, I see that credit card payments are eating in to that number. Along with car payments, student loans, and other debts that financed their toys.
While I am all for living life to the fullest and enjoying every minute of it, trust me it is better for your health, marriage, relationships, and retirement to have your unsecured debted and depreciating assets paid off. And thanks to www.lifehacker.com, a great site by the way, I found a free excel calculator to help you accomplish this task.
You will want to go to http://www.vertex42.com/Calculators/debt-reduction-calculator.html and download the free Debt Reduction spreadsheet from Vertex42.com.
Let me know what you think and any success stories.
Make it a great day and to learn more about me, visit http://www.leemclain.com.
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