Is Debt Payoff Planner free?

Debt Payoff Planner has a free app version with some limitations. The free plan uses ads to cover the cost. There’s also a Pro version without ads that has three different payment options: $10 for two months; $18 for three months; $24 for two years.

How do you create a debt reduction plan?

Follow these six easy steps to set up a debt repayment plan.

1. Make a List of All Your Debts.
2. Rank Your Debts.
3. Find Extra Money to Pay Your Debts.
4. Focus on One Debt at a Time.
5. Move Onto the Next Debt on Your List.
6. Build Up Your Savings.
7. Other Tips.

Is there a debt snowball app?

Using the Debt Payoff Planner app, which is available on both Android and iOS, you can create a step-by-step plan for paying off your debt. Choose from three different payoff strategies—the debt snowball, debt avalanche, or a custom plan that you create based on your personal goals.

What is the avalanche method of paying off debt?

The debt avalanche method involves making minimum payments on all debt, then using any extra funds to pay off the debt with the highest interest rate.

Does payoff have an app?

The Credit Card Payoff app allows you to set a time-based goal for paying off your credit card debt and then shows you how much you’d need to pay monthly to reach it. The app has easy-to-read charts that let you compare various plans to figure out which one will work best for you.

What is the proper order to eliminate debt?

Mathematically, the most effective way to eliminate debt is to follow the avalanche method, in which you list your debts from highest to lowest by interest rate. Pay the minimum balance on each, then dedicate as much extra as you can each month to the one with the highest interest rate.

Which is the best software for debt reduction?

Undebt.it is a free online debt reduction software that lets you create a personalized debt repayment plan. You can use the debt snowball, debt avalanche, or your own custom method to create your plan. And if one plan doesn’t work, you aren’t stuck with it. Switch between plans at any time to find what’s most effective for you.

How can I maintain my debt reduction plan?

After you start your debt reduction plan, there are a number of ways you can maintain it: Continue with a budget – Budgets reveal your overall spending, allowing you to make sure your extra money is going toward the right place – debt!

How to use debt reduction calculator to save money?

Being wary fits into your overall debt reduction plan of calculating, cutting, and curbing. Calculate the amount of money you can set aside each month. Then use this Debt Reduction Calculator to simulate adding this amount to your existing loan payment, and “Calculate Debt Reduction Savings.”

How can I create a debt reduction spreadsheet?

Enter all of your debts, including multiple credit cards, mortgage, and various types of loans, into the spreadsheet to start. Then you can change the view by sorting debts by type, interest rate, minimum payment, and other options. The advanced sorting is helpful if you’re using a particular debt payoff plan, such as the debt snowball.