Create a debt reduction plan

Create a debt reduction plan

Tip: For easier reading, click (above).

1 Go to the Debt Reduction Planner.

1 On the navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click Planner.

2 At the top of the left pane, click the down-arrow

, and then click Debt Reduction Planner.

2 Read the instructions, and then click Next in the upper-right of the screen.

3 Add all the debt accounts (such as those for credit cards or loans) you want the Debt Reduction Planner to help you manage.

How?

1 If the account already exists in Money, go on to step 2. Otherwise, click New Account, and follow the instructions.

2 Under Debt Accounts Not in Debt Plan, click the account name, and then click Move into plan.

4 In the upper-right of the screen, click Next.

5 For Base my plan on (under Define your payment plan at the top of the screen), click an option for how you want to pay off your debt.

6 At the top of the screen, enter the amount or the date.

Move the slider to experiment with different amounts or dates. The text at the bottom of the screen describes the effects of your choice.

7 To make an extra payment, in Making a One-Time, Extra Payment, enter the amount of the payment.

8 In the upper-right corner, click Next.

A view of your debt plan appears.

9 To see a different view, click the down-arrow

on the view bar (The horizontal bar at the top of the Debt Reduction Planner screen that lets you choose what is displayed in the list. Click the triangle to see the available options.). Then click the view you want.

10 In the upper-right corner, click Next.

YouÆll see a list of recommended debt payments.

11 To schedule a payment, choose the check box next to it.

Money will remind you to make the payment, just as it reminds you to pay any bill.

12 In the upper-right corner, click Finish.

How does my debt plan affect my Money file?