What it does

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About zero interest cards and balance transfersInterest_Free.html

Once you have entered the data from your cards,  your work is done, just press the Analysis button. From this point on, B:DF works with all the cards in aggregate, rather than individually. This allows it to suggest ways of paying the same total as you do now, but targeting your payments at the most expensive cards first in a technique often referred to as “Snowballing”. B:DF calculates, over the lifetimes of all your loans, the most efficient way to allocate your payments to each card, and shows you how much time and money this could save.

Step 1 is to enter the data for each card as on the right. As soon as you have done that, the burden of the debt for that card is shown, both for minimum payments and the payments you usually make. The app comes installed with some substantial debts which serve as useful examples for playing around with.

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Perhaps for the first time, you now know how long it will take to pay off your debt, and how much time and money you can save by paying in an optimal manner. This could be all the incentive you need to press on and clear your debt efficiently.

If you are seized with enthusiasm and wish to go even further after seeing the analysis, you can progress to see the benefits of any further payments you are able to make on the Modelling screen.

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How the optimisation process works ... and why you should botherDebt_Free_Examples.html

Become: Debt Free takes the information from your Credit/Store Card statements, and details of the payments you usually make, aggregates it, does a lot of otherwise tedious calculation, and proposes the most efficient and effective way to clear all the balances.

The payments screen shows the payments you should make on each card, in order to achieve debt freedom. These payments include any additional payment you may have chosen to make. Next month, you update the balances and re-calculate the payments and you are another month closer. If you find you want to pay less one month, or have used the card to pay for something, it doesn’t matter. As you enter the new balances, all your figures re-calculate and you will be given a new analysis and set of payments to pay off your new position.