Expensr a Free Web tool to get out of Debt.

Like many young professionals I left college with lots of debt. I had my student loans and two credit cards that were maxed out. Two years after getting out of college I decided that I needed to be promoted and went back to college for a masters degree. This put me just that much deeper into debt. I have been lucky due to the fact I found a wife that was a business major. She has been the one to set up our budgets and keep us on task. Lucy for you if you do not meet someone who can do your budget for you there is a new social web site that can.

Expensr.com has a great tag line “where did all my money go?”. Many times at the end of the month I wounder just that also. Expensr is a lot like Quicken only it is web based, easy to use by people with out an accounting degree and most importantly it is FREE. That is right sign up free and keep your budget free.

They also have added a number of tools to keep you on your budget track. These tools can track milestones like when you will be debt free, how long till you save a million dollars, or how long till you are bankrupt. You can also look at your spending compared to other people in your income levels. You may find that 10% of your income is spent on food, yet most other people making what you do only spend 7%. With this knowledge you could then adjust your eating habits to spend less on food. You then would have 3% of your income to pay off debts, or save for retirement.

Here are just a few facts from the Expensr.com web page.

* Your odds of becoming a millionaire are similar to your odds of filing for bankruptcy.

* The majority of divorced couples say financial problems were their main reason for splitting.

* 1/3 of young professionals will have to live frugally because they accumulated more than $10,000 of credit card debt in college.

Consolidating loans and credit card debt can only get you so far in getting out of debt. The real way to get out of debt is to get onto a budget. The free tools at expensr.com will help to set up that budget. Check them out and maybe they will help make you debt free.