Manage your expenses, debt, and income in a simple program. Debt Management Tool help people in debt manage and understand their financial situation. By entering in your income, debt, and expenses, you can compute your debt situation and figure how long it will take to pay off your debt.
By checking off expenses as either "needs" or "wants" you can determine how much quicker you can pay off your debt by making some sacrifices in your monthly expenses. All the data is organized by month. You enter in monthly expenses, monthly income, and current loans or credit card debt along with the interest rate.
The program will sum the totals and tell you how long it will take you to pay off all your debt and become completely debt free. You can include or not include expenses into the "needs" total by checking and unchecking the "needs" box. All of the names or labels for expenses and loans/debt can be customized to fit your needs.
For example, you can change "rent" to "mortgage" or if you dont have school costs, you can change "school" to "movies" if you spend a lot of money on movies. The application provides 30 customizable expense items and other 10 customizable debt/loan ones.
Debt Management Tool Features:
1. Expense Tracking: 30 different customizable itemized expenses. You can customize each expense so you can track the expenses that are important and significant to your finances.
2. Wants vs. Needs: Each expense can be categorized as a want or a need. This can be changed on the fly allowing you to add/remove expenses from needs to see how eliminating an expense could help with paying off your debt.
3. Debt Analysis: Enter your debts, loans, mortgages, etc. along with the interest rates to see just how much interest you are paying each month.
4. Debt Tracking: Track how long it will take you pay off your debt and become debt free at your current rate. Then track how you can improve your debt situation by lowering your expenses or increasing your income.

The license of this software is Freeware, you can free download and free use this budgeting & expense software.