Though you have a number of debt reduction software, but you may be switching to your smartphones for an efficient app to handle your finances rather than using software. Here are some decent apps to help you reduce your debt. Take a look at few and manage your debt efficiently:
An Android app, Debt Payoff Planner makes use of debt snowball approach to find out efficient strategy to reduce or eradicate debt. You just have to plug your loan balance and other debts along with the rates of interest and the payouts that you have made till date and the app will help you plan which loan, debt or credit card needs to be paid first. It helps you evaluate the right way to clear out your debt via charts, graphs and payout strategies. After you select a debt payout strategy, you can keep a track of your payouts and review how your plan is going. Data can be backed and restored on your SD card and a password can be set to safeguard your fiscal information.
iQuick Debt Payoff lowers down the aggregate interest you’ll pay on your arrear loans, debt and credit cards by adding up the payment schedules using accelerated payout approach to clear out the loan with the biggest rate of interest first. Once the first debt is cleared, you can apply for the next monthly payout to the other loans with the next highest interest rate. It has a number of features:
1. You can compare till 10 loans to choose the best option.
2. Amortization schedule.
3. Payment schedules are saved on the SD card.
• Debt tracker
If you wish to pay your debt and you need the right path to track your efforts, then Debt Tracker is the perfect app for you. The app is simple to use and has good navigation. Just enter all your debts like loan, credit card outstanding etc. and keep a track of your payments and see the bar graph falling down as your debt amount is lowered.
It helps you keep a track of your money that you owe to the others, track your saving goals, and confirm for the online payouts.
This app makes use of a lowest balance first payout approach to clear your debt and credit card bills. Such payment plans are highly motivating. Just tweak the numbers given to you by the app to design a personalized payment strategy and Debt Planner will explain how much time will it take to get out of debt, aggregate interest paid as well as balance transfer fee.
All you need to do is download the apps on your smartphone or tablets and then you’re ready to manage and consolidate debt loans. With the help of the apps, you can easily handle your payouts, get reminders of the next month and see your progress. The job of debt reduction and elimination is well done with the help of these apps.