There is an old adage that says, “You can’t get to where you are going if you don’t know where you are.” This is especially true when it comes to getting our debt under control. We must have some sort of concrete picture of what we have coming in and what we have going out to understand the degree to which we are able to manage our debt…or not.

MSN Money has a nifty little debt evaluation calculator that does just that in a few, easy steps. This is not for a detailed, in-depth analysis of income and spending, but rather a good way to provide a snapshot of your financial situation. There is even a summary at the end of the wizard-like interface that basically tells you if you are in good shape or in a world of trouble, money-wise.

Put your numbers in and see how you fare. For those of us who have a difficult time approaching this process, this definitely qualifies as a positive and powerful first step. Evaluate your debt now with MoneyCentral’s Debt Evaluation Calculator.

Tags | Debt, debt evaluation calculator, financial situation, income and spending, money, money central, money wise