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Mobile Apps You Can Use to Manage Your Debts

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The last thing that any person would love to get is debt. Fortunately, there is a couple of technologies that can help get rid of it entirely.

Individual finance technology has undoubtedly come a long way. People have gone from tax calculators to mobile phone apps. These days, there are even mobile applications that heavily focus on incorporating debt management into their system, too.

Most of these mobile applications range from systems that pay down debt using your spare change to recommending various tactics to help pay it off. So before you plan to refinance your loan, here are a couple of apps that you can use to help reduce your debt and clear it for good.


Qoins uses the same logic as Acorns and Qapital when it comes to financial management as it helps users put their spare money in their savings account towards their long-term and short-term savings. It means that the system automatically rounds up the cost and debits the excess coins from the user’s checking account to pay down the existing debt.

Qoins is a great app that works seamlessly with the payments you’re already making with your credit card or mortgage. Although allowing an app to gain access to your bank account may sound risky, you can always have the option to pause it if you notice that your bank account balance is meager.

Apple users gave the app 4.8 stars, while Android users gave it a 4.5-star rating. One common con of the Qoins app is the upgrades. Most of its users complain that it locked them out of their existing account, which can be a hassle.

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Changed is an app that Forbes Magazine adds to its list of financial management apps that people can use to pay down their debt. It’s a perfect solution for those who are still managing their student loans and have problems paying them down.

Similar to other round-up mobile applications, you can link your checking account to the app together with the targeted student loans. So, every time you pay something, the app rounds up your purchases to the nearest dollar and automatically puts it directly to an FDIC insured account.

Similar to Qoins, you can also use Changed as an additional payment on your existing loans. That’s because it allows you to increase the amount that you can save whenever you want.

Credit Card Payoff

The Huffington Post¬†says that an average American household carries a credit card debt of at least $15,482. If you’re one of those people who hold that much debt, then the Credit Card Payoff is an excellent app for you. It’s a mobile application that lets you set a time-based goal for paying off your entire credit card while showing you how much you’d need to pay every month so that you can achieve it.

What’s great about this app is that you can also see how much interest you’ll save by paying the credit card balance sooner. Credit Card Payoff features charts that are easy to read, allowing you to compare different plans to help you figure out what will best suit you. In that way, you’ll have a more precise projection about how your money goes and see how many payments you’ll need to make to achieve your end-goal.

There are other personal finance apps that you can use to help you with managing your loans. Find which one will suit your needs and see how it goes. It’s best to find an app that you find easy to use and has the right financial strategies to achieve your goals.

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