Today we’re reviewing 4 of the top debt apps out there. If you borrow money from lenders, it is not always a negative thing provided you know how to use it to your benefit.
If you have too many loans in the market, then repaying them is a challenge if you do not have the required funds. Repaying your creditors will seem a tough nut to crack if you cannot manage your finances smartly.
You have other things to focus on such as paying your monthly bills, your children’s higher education, saving for a new home, and meeting daily expenses. All such financial obligations together with your mounting debts will make you look for possible solutions.
Reducing credit card use, changing your spending habits can help you, but there are better ways to manage your debts. Yes, we are talking about debt management apps. There are both Android and iOS applicationsto help you keep all your debts in a single place. There is no doubt about the same.
According to an article published on Huffington Post today, you will find technology to manage your debts in a better way. All you require is a smartphone and just 99 cents or even less to opt for these debt-management apps to make your life easier.
Here are the top debt apps to manage your finance in a better way:
1. Ready for Zero
An Android app helps you to monitor your debts as well as your credit score. Nice, isn’t it? The application displays graphs showing how well you are progressing with your loans in the market. The best feature of this mobile app is that it lets you focus on your most important debt, which is a huge amount of money that you need to pay off as soon as possible. With this app, you can build a tailored pay down plan to get your debt streamlined and under control. Additionally, you will get personalized suggestions as well as alerts depending on your financial condition and ability to pay off the loan.
Besides, you will get alerts in the future so that you do not miss any debt payments in the subsequent months. The app is secure for users and comes with first-rate encryption technology. It makes all your payments and transactions safe on the app. There is no doubt about the same. You can link this app with your bank account with no worries about security threats.
2. My Debts
Use this Android app to help you with overall money management and organizing your debts. The application will delight users with a visual representation of your expenses and incomes. When you can see your earnings and expenditures simultaneously, it will help you analyze your financial situation at all times. Accordingly, you can make plans to pay off your creditors. Set alerts on My Debts to help you remember the debts that you need to pay off fast because of a near due date. This way, you will never miss payments on the most pressing loans you have taken out from a lender. In addition, it is needless to say that you will check debt reviews of a company before taking out a loan from the same.
The app also helps you set up alerts for recurring expenses like paying your rent. It means a calendar event will reappear each month and disappear after you have cleared the payment. It is the best way to monitor all your debts, other expenses, and bill payments. The app helps you to bring into line all your debts, bill, and finances in a single place. Do not think anymore, just try this app, and you will manage your debts like never before.
3. Debts Break
This is an iOS app employs the Snowball method to make your debt management easy. The method is a kind of debt strategy, the brainchild of an eminent financial expert, Dave Ramsay to cope with multiple loans. The purpose of Debts Break is based on a loan reduction process, which is simple and not overly complex.
With this app, you can start paying off your dues from the smallest to the largest debts. Once your small debt is cleared, the earlier payment sum for that particular debt is rolled over to the subsequent smallest debt. It means that you can merge all the small loans you were paying off and put them towards your big debt. That is why is called the Snowball method.
The app updates the remaining, outstanding balances automatically. Therefore, you need not fret over entering information every time you make a debt payment. The app comes with payment logs and defines them as paid or unpaid, thus giving you a clear idea of your debts, thus telling you which account to pay off the next month.
Besides, you can set alerts to inform you of specific debts. In case, you do not need to use the Snowball method, the app lets you turn off the function. Thus, you can concentrate on the other app features such as pie charts to get a visual representation of your debt.
4. Debt Manager
This is an iOS app uses your debt-related data to build a progress graph to show you how well you are paying off each of your debts. The graphs will also show you your outstanding loans and rate of interest. The app focuses on the Snowball method to monitor and pay all your loans efficiently and in less time.
The app comes with some interactive features, giving you tips and ideas depending on your debt condition. You can keep track of your payments with the application, using an automated feature or manually. The app lets you synchronize with additional devices to help you access information anywhere, anytime. The app also comes with a“what if” feature situations. You can view all data and stats if there is a change in the rate of interest or if you want to increase your monthly payouts.
No matter what debts you have and the approach you want to use, these apps will help you manage your finance in the best possible way. You can personalize your app features and use them to your advantage.
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I’m a marketing and communication expert. I also serve as a content developer with many years of experience. I help clients in long-term wealth plans. I have previously covered an extensive range of topics in her posts, including Money Saving, Budgeting, Cryptocurrency, Business Debt consolidation, Business and Start-ups.