DebtGoal: Pay down debt faster by paying smarter

There’s a fundamental difference between being in debt and being seriously in debt. Anyone with a mortgage or a credit card will be in debt at some time in their lives and it’s the ability to manage these debts that keep you away from the serious side of the issue.

Debtgoal.com is not a last chance sanctuary for when the bailiffs are about to knock on the door but it does provide some good tools to ensure that they never do.

Aimed at people with a variety of borrowings like credit cards, store cards, mortgages and consumer loans, debtgoal recognizes that whilst these people have the financial means to eventually repay them they lack the organizational means to do it smarter.

By signing up to the site you can upload all of your debt accounts electronically or manually and then commit a monthly amount to repay your debts based on your current financial circumstances.  There are a number of strategies to choose from including debt stacking, where the highest APR accounts are paid first, and debt snowballing which takes out the lowest balances. Once all things have been considered you are presented with your personal SmartPay Plan™.

All of the tools to track your plan are provided. A calendar shows due dates and amounts and you’ll get a weekly email alert of upcoming payments. At the end of each month debtgoal generates a summary of how you’re doing against your goals which includes charts and graphs and the all-important confirmation of when you’ll become debt free.

You can try the site for free and if you like it sign up for $14.95 a month and start getting your debts organized.

Conclusion
A very useful site for anyone struggling to keep on top of multiple debts. In a lot of cases the $14.95 a month will probably pay for itself with the amount of interest savings achievable when you pay smarter.