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Smartphone Apps for Debt Relief & Better Money Management

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This article was last updated Oct 09, 2017, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

The capabilities of smartphones and apps have created a population dependent on their mobile devices. From games to health care apps, smartphones have far exceeded the basic premise of talk and text in the realm of mobile phones. One of the major trends of apps has been the birth of mobile banking and money management. Consumers can now access accounts on the go to pay bills, transfer funds, and monitor credit reports.

However, one of the major factors that is lacking on the individual banking apps is the inability to cross between accounts or to access all accounts in one centralized location. This lapse has led to the creation of money management apps that position all accounts, bills, and debt management strategies into one convenient location. Listed below is a list of our favorite smartphone apps for personal money management and debt relief.

Mint Bills & Money Price: Free

Platform: iPhone and Android

Formerly known as Check, Mint Bills and Money is an award-winning app that helps you manage your finances. This app can track when your bills are due so you never miss a payment. It will also notify you if you’re close to overdrafting an account so you don’t get slapped with fees and penalties. For every account linked, you can easily access and store bill statements within the app. Check out the full product review.

Debt Snowball Pro Price: $2.99

Platform: iPhone and iPad

This easy app is a great tool for consumers trying to achieve financial freedom. It allows the users to monitor their payment progress on all of their debts in one place. Users can easily calculate payoff dates for their debts by imputing the interest rate and monthly payment. You can also schedule each payment due date so the app will send you reminders to make sure you pay on time. See the full review for more details.

Money Lover Money Manager Price: Free

Platform: iPhone, Android, Windows Phones

Money Lover tracks incomes, expenses, debts, and savings. The app essentially serves as a finance manager for the everyday consumer. By automatically tracking your spending, it’s easy to manage your monthly budget. This app automatically transforms your expenses and budgets into understandable graphs and charts. More information is available in the full review.

Money Wise Price: Free

Platform: Android 4.4 and up

Money Wise allows users to take back the control of their personal finances by tracking everyday expenses. Users can easily create budgets, monitor cash flow, and limit spending and see comprehensive graphs that show spending over time. Budgets can be set on a monthly, weekly or biweekly basis. See the full review for detail on how this app can help reach your debt free goals.

iQuick Debt Payoff Price: $0.99

Platform: Android

This app works as a financial planner to compute payment schedules to eliminate debt while minimizing the overall interest charges. The colorful app makes staying on top of your normal bill schedule and paying off debt easier than ever. See full review for details on how this app works to get users out of debt.

Toshl Finance Price: Free

Platform: iPhone and Android

The Toshl app creates a space for users to monitor their finances on the go with simple usability.  It automatically tracks incomes and expenses to help users stay on their budget. The app can analyse your spending and make suggestions to help you save money. It will also remind you whenever your bills are due or if you’re close to overdrafting an account. See full review for the details of this debt management app.

ReadyForZero Price: Free

Platform: iPhone and Android

This app helps you pay off debt and build wealth on your own by connecting all accounts to develop a personalized debt payment plan. You can track your progress and make payments on the go with this app. Like the other apps in this space, this one will notify you so you never miss a payment. More information is available in the full report.

Credit Card Debt Payoff Price: Free

Platform: iPhone, iPad, iPod Touch

This debt payoff calculator is designed to show you how long it will take to pay off your credit card debt, and the total interest you’ll pay. By entering your monthly payment amount, it calculates the date by which you can be debt free. You can also set a goal date to find out the monthly payment necessary to pay off your debt by that time. See full report for more details.

Debt Payoff Planner Price: $0.99

Platform: Android 1.6 and up

This debt reduction app uses the debt snowball method to customize a strategy to becoming debt free. It suggests which debts and loans to pay off first, calculates the time it will take to be debt free, and tracks progress with charts and graphs. The full report provides more details about this debt management app.

*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.

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February 2, 2016