Quicken's Debt Reduction Planner helps you build a payment strategy optimized to reduce interest and get you out of debt as quickly as possible. The following topics walk you through creating and managing your plan.
About the Debt Reduction Planner
New to the Debt Reduction Planner? Start here for an overview of what it does and what you can accomplish with it.
Create a debt reduction plan
Set up your plan by selecting which debts to include, entering interest rates and minimum payments, and specifying how much you want to pay each month. Quicken builds a payment schedule optimized to minimize your interest costs.
Work with a debt reduction plan
Track your progress with the Projected Payoff Date and Savings graph. Compare your current plan against minimum payment projections and monitor how your actual payments are tracking against the plan.
Change a debt reduction plan
Update your plan as your situation changes. Add or remove debts, update interest rates, or adjust payment amounts by editing your existing plan.
Experiment with debt reduction plan options
Try out different payment scenarios without committing to them. Compare outcomes side by side and replace your current plan with a new one when you find an approach that works better.
Change the debt reduction plan payoff order
Choose how to prioritize your debts. Pay off the highest-interest debt first to maximize savings, eliminate the smallest debt first for a "snowball" approach, or set your own custom payoff order.
View and print a debt payment schedule
See the monthly payment amounts, projected payoff dates, and current balances for each debt in your plan. Print your payment schedule to reference as you pay your bills.
Enter information about debt reduction (Lifetime Planner)
Once you have a debt reduction plan, you can include it in your Lifetime Planner forecast so that your scheduled debt payments are automatically factored into your long-term financial picture.