Eight Best Debt Management Apps

Chidera Onyegubor
Chidera Onyegubor November 5, 2020
Updated 2020/11/05 at 7:25 AM
best debt management apps

Do you wish to know the eight best debt management apps? This article would enlighten you

on  how to be free from debts. So, let’s begin!

best debt management apps

Debt is like a sickness, it will bite deeply into your finances and hurt you when you least expected. It is like glue, now you’re stuck in the wrong place. Often it is being said that the first step to financial freedom is through savings but, how can you save when you are deep in debts. So, we concluded that the first step is to get DEBT FREE. It might seem impossible especially if you have been in debt for a long time, but it is possible because even the word itself says “I’m possible”.

Being in debt most times is not a deliberate act, 95% of debtors will tell you that they had intentions of paying back and in that time stipulated for it. But either they forgot or ended up coming short of the amount at the end.

And now this is where one of my godmother’s best quotes comes in, and it goes like this “if you fail to plan, you plan to fail”. This applies in every area of life, so you see you are in debt today because you lack plans and when I say plans, I mean the right strategy.

Now, I would not be surprised if the question on your mind is, what is the right strategy?

How can you do it and at the same time meet up with savings and daily needs?

Well, you do not have to worry any more because we will be introducing to you eight super user-friendly apps that will help you manage your debt until payments are complete.

So, no matter the kind of debt you are in, be rest assured that among the best debt management apps, there must be one that suits you.



Unlike most debt management apps that you will come across, Quicken does not only help you settle your debts, it also manages your finances and helps you make budgets thus reducing daily expenses.

With Quicken, you choose a payment plan or rather create a payment plan that prioritizes debts with higher interest rates, this way you get to save more money at the same time. Apart from the first year which is at the rate of $46.79, Quicken Deluxe costs $51.99 per year.



The concept behind this app is to forward spare cash in its users’ accounts towards the settlement of both long-term and short-term loans. The app rounds-up figures from every purchase. This will eventually accumulate and be used to pay-off debts monthly. Qoins has a monthly fee of $1.99 and has a feature that updates users on withdrawals done from their accounts.


Payoff Plan

The Payoff Plan is among the best debt management apps. The Debt Payoff Plan does not only help in the payment of debts but also sets you up with the most convenient strategy suitable to your finances and the type of debts to be paid. This app is for free, this means that users are not charged for using it and it is easy to access and download. Here, you input the debts you would like to tackle, your debt balance along with the amount that is left to make it complete, the minimum payment, and the annual percentage rate for each. You also get to choose from the numerous plans available, it could be the Debt Snowball Method- this entails that you start with the debt with the smallest Ballance or The Debt Avalanche Method which has to do with paying off first debts with the highest interest rates. The choice is yours and you are not limited to only these two plans, other plans may suit your needs better.

It’s available to both Android and iOS users and has 4.8 stars reviews on the play store.


Debt Manager

Just like the name implies, this app helps users manage debts. It is mostly preferred by those planning to use the debt snowball and debt avalanche method. Its interface is user-friendly and allows you to monitor your progress as well as keeps you updated on withdrawals made. It costs only $0.99. To make payments easy, the app usually adapts the format used on the previous one for the next.



This is a very friendly and ready to use app that helps to speed up the process of paying student loans. It is to be used on loans that payments have already begun. And just like the Qoin app, Changed rounds off the cost of any purchase made and saves the difference in an FDIC insured account, until it is up to $100 then it will be used to pay off your loans. To set up a Changed app account, all you need is to fill out your details where needed and link a clearing account to it. You are required to make the monthly payment of $1.

Undebt It

This software allows users to create debt repayment plans that suit them and uses methods different from the debt snowball or debt avalanche method. One of the things that set this app apart from other ones is the fact that users can always switch from the plan used to a different one. It has a calculator and time which allows you to set the date and time for your desired repayments. The best thing about this app is, it is for free and costs a little fee if $12 yearly for the premium version.


Vertex42’s Excel-based Debt Reduction Calculators

This app is peculiar in the sense that it allows users to create their debt reduction plan using Microsoft Excel. It has different payment techniques one of which is the Credit Repair Spreadsheet which focuses on paying off your debt in a way that improves your credit score. It is available to both Android and iOS users.

Debt Free

Debt Free is among the best debt management apps. Here you get to customize your repayment plan just the way you want. It costs $0.99 and has three in-built calculators with which you can decide your payment. They are; the payoff date calculator, loan calculator, and mortgage calculator respectively.

Unfortunate for Android users, Dear Free is strictly an iOS app. It uses several repayment plans including;

  • The customized method which is created by the user
  • The snowball method
  • Repayment by the lowest balance
  • The repayment plan by highest interest rate
  • Repayment by highest balance and many more.
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