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mg196 · Jun 11, 2009, 07:26 AM

I saw this program mentioned in the new Mac|Life magazine. Is it worth the money? It seems straightforward and simple, which is what I want. Anyone have any opinions?

Thanks.

turtle777 · Jun 11, 2009, 09:06 AM

I have never heard of it.

Just read a review here:

Debt Quencher instantly had selected the best way for me to pay off my debt which happened to be the lowest balance method.

I have two issues with that:
a) The lowest balance method is NOT the most cost efficient method. With the lowest balance method, you will pay more in interest charges over time. However, you will see results quicker which makes it easier to keep going and hacking down your bills.
b) Why the heck would I need an application telling me what my lowest balance is ? If I wanted to use that method, I'd need no app.

IMO, this app is probably not worth paying for. Me, personally, I'd set up an Excel spreadsheet and did some modeling myself. That would keep me more engaged and help me understand stuff better.

-t

Maflynn · Jun 11, 2009, 09:30 AM

I use a spreadsheet that tracks my budget and my debt.

Seems to go against common sense to pay for something to tell you not to spend money

I don't need some application to tell me if I pay this credit card off, I'll save x dollars or tell me which credit to pay off first. Figuring that out using a spreadsheet is easy enough.

Chuckit · Jun 11, 2009, 09:43 AM

A spreadsheet is an application.

turtle777 · Jun 11, 2009, 09:55 AM

Originally Posted by Chuckit

A spreadsheet is an application.

-t

mg196 · Jun 11, 2009, 11:54 AM

Thanks, turtle!

I just read that review, which at first reads like an advertisement. I have used spreadsheets in the past, but I like the fact it does all the figuring for you. The screen captures on the review page give me a little more clarity.

Hint for reviewer/bloggers: Please be a little more critical in your reviews! We dont just want to know the final result. We want to know how you reached your conclusion as well. Pros/Cons are always a PLUS in a review!

Anyone here that actually purchased it?

64stang06 · Jun 11, 2009, 12:44 PM

I will also say use a spreadsheet. Much easier to build and customize to your needs.

Chuckit · Jun 11, 2009, 01:54 PM

Originally Posted by 64stang06

I will also say use a spreadsheet. Much easier to build and customize to your needs.

By the same logic, use Gentoo Linux on a homebrew PC.

I'm not saying don't use a spreadsheet, but I think there's also benefit to having a well-designed dedicated solution.

turtle777 · Jun 11, 2009, 01:57 PM

Originally Posted by Chuckit

By the same logic, use Gentoo Linux on a homebrew PC.

He said easy to build

Don't you think there is a difference between creating a spreadsheet, and building a PC and installing Linux ?

-t

turtle777 · Jun 11, 2009, 01:59 PM

Originally Posted by Chuckit

I'm not saying don't use a spreadsheet, but I think there's also benefit to having a well-designed dedicated solution.

But not if the app by default spits out a solution ("lowest balance method") that doesn't save you money and can be figured out by simply reading your freaking card statements ?

-t

64stang06 · Jun 12, 2009, 12:01 PM

I can see the point Chuckit was trying to make, but I will say that I guess since I have a little more spare time than others, creating the spreadsheet wasn't too hard since I could take the time to plan it out and such. There might be Excel templates out there that already do this so a quick search might yield some decent results.

mg196 · Jun 13, 2009, 01:53 PM

Thanks guys/gals, but I was hoping for an evaluation of the program. Spreadsheets are nice, but I am willing to spend $15 for a good interface that is a simple plug-n-play.

Veltliner · Jun 14, 2009, 04:35 AM

Increases you debt by 15$.

(There are many applications out there, that don't make sense. A clean sheet of paper and a pencil is higher end technology for expense control. And keep the slips of your credit card spending and add it up. This way you can keep track of your expenses).

mg196 · Jun 15, 2009, 06:02 PM

OK, I guess this thread can be locked. What I was looking for was a review of the program. I am fully aware of the usefulness of spreadsheets and pen & ink. I dont keep receipts...I scan them and store 'em. With all respect, I can afford $15 on a program and would not accumulate any debt over it.

If you have not used Debt Quencher, don't intend to use it, or think it's stupid, then please just move on to the next thread. If you HAVE used it and liked it, hated it, or were indifferent I'd appreciate your perspective.

I don't think I'm being a dick! I just want an informed review!