Light at the end of the tunnel...

I have been using this app for years now, ever since my previous favorite, DebtMinder, was discontinued.

First and foremost, the author of Debtinator has provided amazing support. Several times over the past few years, I have encountered scenarios that would cause the program to get stuck in an endless loop. The author was always able to work with me and provide me an update to resolve the issue.

I only use some basic features of this app. I put in my monthy expenses. I enter my bank accounts. I put in my credit accounts (cards, car loans, etc.). After all the work is done (interest rates, minimum payment requirements, etc.), it is very simple to let it run for a few minutes and show you how fast you can be debt free. It can give you the "best/fastest" way, where it will spend every last dime you have paying down highest interest debts first, or you can see how many lifetimes it will take to pay off at just "minimum monthly payments." It also lets you manually select the priority of accounts. I do it this way, so my "working card" gets paid to zero every month. It is very flexible, and so far, anything I have wondered if it could do, I have been shown a way to do it.

Being able to see this light at the end of the tunnel makes my debt situation seem far less hopeless. ;-) You can also experiment and see what impact extra income would do (I can quickly add an extra $200/month and see how much faster I pay off -- perhaps a part time job would be woth it, eh?).

I have yet to find anything better on the Mac for this type of calculation. It is easily one of the most important pieces of software I use.

Allen Huffman about Debtinator