by CI Staff
Zilch Standard assists users in debt reduction. This basic program lays out expenses and takes into account a variety of financial details, including interest rates, loans and outstanding balances. Other features of the download that can be applied to your debt-reduction plan are a choice of seven different payoff strategies, data entry of up to 30 creditors and much more.
When the program opens, users add credit information. Zilch asks for the creditor’s name, annual percentage rate (APR) charged, current balance, monthly payment and a start date. There are several different payoff strategies that you can choose and the program will help you apply that to your current outstanding debt balance. Some examples are “quick elimination” or “highest balance first.” Different strategies can have different effects, so it is important that individuals research which type of debt-reduction plan would work best for their financial situation. Zilch also provides several different calculators to help you gain a more thorough understanding of your financial status and future plan. Calculators include future value of lump sum, loan payment, future value of regular deposits and price range.
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