What types of account can I use in the Debt Reduction Planner
The debt reduction planner is a tool within Microsoft Money to help you to get out of debt quicker. It is designed to help you pay off debts with the largest interest rate first, whilst still maintaining the minimum payments on other debts.
As it is related to money you owe, the debt reduction planner (DRP) only works with particular types of account. The account types are:
- Credit cards
- Loans
- Lines of Credit
- Liability Accounts
- Mortgages
It does not support overdraft accounts on standard bank accounts or other 'extensions' to existing accounts.
It is recommended that you don't put amortized loans in this planner, as these have a schedule already - adding them doesn't usually work, and things can get confusing.
Keywords: account, DRP, debt, planner