By Wilmer Infante
If this is the year you’re going to focus on your debt and finally get it out of your life, then we have the perfect tool to help you do that! Best of all, it’s free!
I have figured it out. I am super excited to share this with you because I know it isn’t going to just help you in your quest to financial freedom… it is going to motivate you.
I have been testing an app for about three months now that is unlike any other financial app out there. The app is called “Debt Payoff Planner & Tracker.” https://apps.apple.com/us/app/debt-payoff-planner-tracker/id1009323715
I like this app because it is really the easiest way, that I have found, to have a very specific and step by step plan for paying off your debt.
Choose a debt payoff strategy – like the Debt Snowball method where you pay off the lowest balance first or the Debt Avalanche method where you pay off the highest interest rate first and then the app will give you the exact plan to tackle your debt. It even gives you the month and year that you can expect to be debt free which I find to be a complete game changer because if you’re as competitive as I am, you’re going to try to beat that date. Remember, your ability and willingness to pay more than the minimum payments is how you will become debt free in less time.
Every time you pay down a debt, you manually enter the payment details in the app. You don’t need to but if you want the app to save your information, I recommend you create an account. It doesn’t ask you for any account numbers or creditor log in information and you can name the debt whatever you want. So, if you don’t want to call it Chase Credit Card, you can name it Debt #1, and you’ll have nothing to worry about. It’s all manual. You can access your account via the app or website.
Here are a few categories of debt that the app supports:
* Credit Cards
* Student Loans
* Auto Loans
* Medical Loans
* Mortgages
* Personal Loans and
* Taxes
I find that people don’t address their debt because they think that it will take them many years. They just make their minimum payments and hope it goes away at some point. With this app, it is like the roadmap you’ve always wanted on your course to a debt free life. If you are struggling with debt or know someone who is, please check this app out. I really believe it will be helpful.
