Are you in debt and looking for a way out? Well, you’re not alone. Debt is a common issue that many people face. It is often the result of unexpected expenses, including medical bills or car repairs.
According to a study done by the Federal Reserve, around 40% of Americans have some form of debt other than a mortgage. This can be in the form of credit card debt, student loans, medical bills, or even just personal loans.
Fortunately, there are a number of apps that can help you get out of debt. And the best part is, many of them are absolutely free!
Here are six apps that can help you recover from your debt:
Get Out of Debt: 6 Apps to Help You Achieve Financial Freedom
1. Mint
Mint is one of the most popular finance apps, and for good reason. It offers a full suite of features that can help you get a handle on your finances and start paying off your debt.
The app provides a complete overview of your financial situation, including all of your debts. You can see exactly how much you owe and to whom. This information is presented in an easy-to-understand format that makes it easy to develop a plan to pay off your debt.
2. You Need a Budget
You Need a Budget (YNAB) is one of the most popular budgeting apps on the market. And for good reason – it has helped people save millions of dollars and get out of debt.
The app works by giving you complete visibility into your spending. You can see where every dollar you earn and spend goes. This makes it easy to identify areas where you can cut back on spending and put more money towards paying off your debt.
YNAB also offers a feature-rich online course that teaches you everything you need to know about getting out of debt and living a financially free life. The course is included with your subscription to the app.
3. Truebill
Truebill, which is now Rocket Money, is a free app that helps you take control of your finances. One of the features that makes it so helpful for those in debt is its ability to negotiate your bills on your behalf.
If you have a bill that you can’t afford, Truebill will work with the company to try to get your bill lowered. This can free up some extra cash each month that you can put toward paying off your debt.
Truebill also offers a number of other features that can help you get out of debt, including budgeting tools, bill tracking, and even a Debt Reduction Planner.
4. Credit Karma
Credit Karma is a free app that offers a number of features to help you better understand your financial situation. One of the most helpful features for those in debt is its credit score monitoring.
Your credit score is one of the most important factors in determining your ability to get out of debt. By monitoring your credit score, you can make sure that you’re taking steps to improve your credit and improve your chances of qualifying for better debt repayment terms.
Moreover, Credit Karma offers a number of other features, including budgeting tools, credit monitoring, and even identity theft protection. It is also one of the most popular finance apps, with over 120 million users.
5. Debt Payoff Planner
Have you ever wondered how long it would take you to pay off your debt? Debt Payoff Planner is a finance app that allows you to input your debt information and create a personalized plan to pay it off. You can view your progress, set goals, and see how much interest you will save by using this app.
You can also use Debt Payoff Planner to create a budget and track your spending. This can be helpful if you are trying to get a handle on your finances and figure out where you can cut back.
6. GoodBudget
If you are looking for a finance app that can help you get a better grip on your spending, consider GoodBudget. This free app is great for creating and sticking to a budget. You can even share your budget with others so they can help you stay on track.
Notably, GoodBudget can also be used for tracking investments and savings. This can be a valuable tool if you are trying to get out of debt. The app allows you to see where your money is going and where you can cut back so that you can put more towards your debt.
Conclusion
There are a number of finance apps on the market that can help you get out of debt. While some of them are paid, there are also a number of great free options. By taking advantage of the budgeting, tracking, and negotiation features offered by these apps, you can save money and get out of debt faster.