Are you looking for painless ways to help you get out of debt?
The first rule of getting out of debt is to be realistic about the amount of debt that you’ve accumulated. It happens to the best of us.
Being in debt, and being stuck in debt are two completely different situations.
Once you’ve acknowledged the issue, the next step is to do something about it before being in debt becomes the latter.
Keep reading to learn about a few tech tools that make getting out of debt a breeze.
The great news is that there are tools available that you can access using your smartphone or online that make the process of getting out of debt a virtual breeze.
These tools help you to get out of debt faster by providing you with realistic scenarios to follow in order to achieve your debt free goals and prevent you from having to take other drastic methods like borrowing from friends or family to get out of debt. (Yikes)
Qoins Takes The Work Out Of Paying Off Your Debt
Apps like Qoins.io are designed to help you get out of debt within a specific amount of time. The Qoins app promises to help users to get out of debt within a time span of 2-7 years. (If you stick with the program.)
How it Works: Qoins works by linking your bank account and tracking your spending activity. The app automatically rounds up your purchases to the nearest dollar and sets them aside for you.
At the end of the month, they automatically make an extra payment for you.
This is an amazing way to sneak up on your debt if you’ve been having trouble trying to save or tackle debt in large chunks.
Qoin App Usage and Fees
The qoins.io app charges a 1.99 monthly fee that is taken out of your savings pool instead of charging you directly. Satisfied Qoin users have reported saving over an additional 600.00 per year using the app which equates to between 50-55.00 per month.
Manage Your Household Budget and Get Out Of Debt with Mint
Mint.com is another popular household finance management app that helps you to keep track of your daily earnings and tells you exactly how those funds are being spent.
Mint is a great free tool for daily money management and has other built-in features to help you to rapidly reach your debt repayment goals much faster.
Use mint.com’s get out of debt feature to input all of your debts, including recurring monthly payments like credit card bills and everyday expenses.
Mint will tell you exactly how much you need to spend in order to meet your monthly financial goals and get out of debt.
This app is available for download on the Apple Store and Google Play.
Online Tools For Managing Debt
Unburyme.com – Is an online loan calculator with a simple interface that lets you input the details of your existing debt with your payoff goals.
Unburyme helps you to create an optimized payment plan to get out of debt fast.
This free open source platform gives you debt repayment scenarios that help you pay off your debt using the Avalanche or Snowball rate scenarios.
The Avalanche Method – highest interest rate scenario that results in the least amount of interest paid.
The Snowball Method – lowest principal rate scenario that results in paying off small loans faster.
Staying Secure While Getting Out Of Debt Online
If you’re considering using desktop tools to manage or get out of debt, be sure to stay secure when entering your financial details online.
There are a multitude of security features that you can choose from to manage your individual access to secured accounts and to protect your sensitive financial data. For enterprise app management and data protection consider privileged access management tools like Centrify to protect your data.