Debt Management Software

Start to track your expenses and debt closely

One of the most important parts of personal finance is debt management. Ideally, it would be great not to have any debt, but in realty, most of us can not escape debt path. The best way to begin getting your debt under control is to set up a budget plan and reduce your monthly spending.  You might think that you don't spend that much and all your money goes to necessary purchases...  Well, if you start to track your expenses and debt more closely, you might get very surprised when you discover just how much of your hard-earned money spent on unnecessary expenses and things that you don’t need or can easily live without.  moneyStrands debt management software makes it easy to see all your income and debt in one secure place. It allows you to set up budget allowances for your monthly expenses and then sends you alerts to notify when you exceed your budget target for fewer debt management surprises at the end of the month. Best of all moneyStrands is FREE, so you won't go further into debt!

Always know where you stand financially

moneyStrands debt management software automatically sorts your transactions into helpful expense categories so you can quickly spot if you're spending more than you should. It also shows you the current amount of debt on each of your credit cards, student and auto loans so you can identify and pay off the highest-interest debt first.

Know your debt-to-income ratio

A good way to start the process of reducing your debt is to find out how seriously in debt you are. The formula for calculating your debt-to-income ratio is simple:  monthly fixed expenses divided by gross monthly income.  The lower your result is the better, but generally, if ratio is higher than 20% it tells a credit company that you might be headed for financial trouble.  If your result is greater than 36%, your credit score might be negatively affected because you are considered to have too much debt.   This means that credit card company and other lender might turn down your application.

Find ways to save money

Not only moneyStrands is a free debt management service, it helps you to save money as well. Our intelligent recommendation engine finds the best deals for credit cards or saving accounts and recommends them to you based on your unique financial profile. Our financial expert-written money saving tips can help you save even more.

What is moneyStrands?

moneyStrands is a FREE and easy-to-use personal financial assistant for busy people who want more control over their financial lives. It automatically gathers data for all the financial accounts you want to track, including savings, checking, and credit cards, to give you an up-to-date, accurate, unified view of your finances. moneyStrands goes beyond providing financial analysis tools by also providing personalized money-saving advice and recommendations, and lets you compare yourself with people who share your background and financial goals. In addition to automated bank feeds, moneyStrands recently added the capability to manually upload your transaction history files (and even to type them in one at a time) delivering the highest flexibility in handling your financial needs.