What apps can help you reduce debt?
Best Budgeting Apps and Software for Paying Off Debt
by Dollar Stretcher Contributors
Best Budgeting Software and Apps for Paying Off Debt
We are trying so hard to work our way out of debt this year and have committed to sticking to our budget. I'm interested to know what budgeting software or apps your readers have used and recommend or would advise not to use, especially for those who have used one to pay off debt or are paying off debt. We would prefer a free program. However, we would be willing to pay a small amount for a good one. It needs to be secure since we would prefer to use one that will allow us to import all of our banking and credit card transactions. There seem to be so many to choose from now. Ease of use, secure, and free or cheap would be our top three criteria, but I would also love to hear what features your readers liked or disliked about their recommendation. Thanks!
Mint Makes It Easy
I have found Mint to be a very good free program that includes a budgeting aspect. It can also tell you when bills are due, and you can even pay them right in Mint.
Get Customizable Help
Check out EveryDollar.com for their free app and their paid Every Dollar Plus app. It's good, and it's customizable.
An Oldie But a Goodie
I have used Quicken since they first came out early in 1994. About 20 years ago, Quicken added a debt reduction planning program into their package. Using that, I got myself out of debt. It is still in the package I have (smile), but I no longer need to use it! It also can download bank statements etc., but I prefer to do it myself to keep me more aware of my situation. You do not have to upgrade every year or pay a fee yearly. I kept one version for over five years before I upgraded. I only upgrade if they have added features I can use. If you have stocks or other investments, they can be downloaded as well, but I prefer to do it myself to keep me very aware of where I am.
Don't Waste Your Money
A piece of paper and a pencil is a great place to start. A calculator in some form helps. Do not spend money on expensive software. It is not necessary!
Not sure where to start with making a budget? The affordable Home Budget Spreadsheet from SimplePlanning.com makes budgeting simple.
Two words: Dave Ramsey
I dearly love Dave Ramsey. Much of his stuff online is free. However, you can upgrade should you choose and pay a small fee. A trip to the library will get his books. Go for it. By the way, I am debt free and I have no mortgage payment.
Mint Saved My Sanity
I recommend Mint, Mint, and Mint! It's an outstanding, free program to help manage your budget and your bills and pay off debt. I have used it for years and have had no issues with security. It updates transactions with ease and the new bill-pay feature helps to ensure I never miss a payment. My favorite part is that I can easily plan for annual bills like home insurance and car registration by budgeting for the payment on my monthly budget. The payment grows in my checking account and there is never a panic about a big bill coming due. After my divorce, I used Mint to help me pay off $50,000 in debt in four years. Having all the numbers in one place and watching the "red line" shrink helped me to stay sane during a very stressful time.
Reviewed February 2018
Take the Next Step:
- Create a budget in just a few minutes with the Quick Budget Worksheet from Simpleplanning.com.
- Stop allowing debt to cramp your lifestyle and rob you of peace of mind. The TDS ebook How to Conquer Your Debt No Matter How Much You Have can give you back both. Get started today!
- Funding an emergency fund now can help prevent debt problems and even bankruptcy later. Start saving today with these 11 easy ways to find $1000 for an emergency fund.
- Stop struggling to get ahead financially. Subscribe to our free weekly Surviving Tough Times newsletter aimed at helping you 'live better...for less'. Each issue features great ways to help you stretch your dollars and make the most of your resources. Subscribers get a copy of Are You Heading for Debt Trouble? A Simple Checklist And What You Can Do About It for FREE!
Have an idea that we didn't include? Send it to us and we'll add it to the article.