These are the 35 Best Financial Apps for Debt Relief
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ExpertiseAshley Jones is a freelance writer based in Houston, Texas and can be reached at [email protected]. Her work has appeared across multiple platforms including Romper, Cancer Today, Publisher’s Weekly, Elite Daily, Mommy Poppins, Cancer Wellness Magazine, Motherfigure, Ladders News, and Let Grow.
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Spurred by the pandemic and record-high inflation, American consumers today face skyrocketing personal debt. Between credit card debt, student loans, mortgages, auto loans, and personal loans, total consumer debt in the U.S. hit $16.5 trillion dollars in the first quarter of 2022, according to the quarterly Household Debt and Credit Survey from the Federal Reserve Bank of New York. Getting out of debt can be challenging, but technology can help you streamline things.
If you’re looking for a way to track your debt, keep your accounts organized and help you get out of debt, then you need to learn about the best financial apps for debt payoff.
Why do you need a debt payoff app?
Debt payoff apps are one of the best ways to make sure you stay on track with getting out of debt. If you’re struggling to pay off your credit card debt, chip away at student loans, or manage your money well enough to pay down any debt at all, you’ve probably already tried to come up with a game plan. You know you need to pay down your debt, but between groceries and bills and car payments, it’s hard to find the money to pay more. That’s where these financial apps come in.
Paying off debt takes discipline and planning. Personal loans, refinancing, and consolidating your debt are all viable debt payoff strategies, but if you need help getting everything organized, financial apps can be a big help. To help you manage your money and pay off debt fast, a financial app can guide your spending, saving, and show you exactly where every dollar goes.
When you’re ready to get out of debt, a debt consolidation loan can help you pay off your credit card debt with one easy payment. Find the loan that’s right for you and then integrate it into your favorite financial app to get a clear picture of your debt payoff strategy.
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1. Best financial app to improve your overall financial wellness
The tool: MyCredello
Cost: Free
Availability: Online, web-based application
How it works: One of the biggest parts of paying off your debt is making a plan for where and how to funnel your funds. MyCredello is a financial app that helps you pay down debt with personalized organization and clear strategies that are easy to implement.
2. Best financial app to consolidate credit card debt
The tool: Tally
Cost: Free basic plan, $25/month for Tally+ plan
Availability: iOS, Android
How it works: The app allows you to pay down debt by consolidating your credit card debt into one single payment. It also allows you to set reminders, keep track of all your spending, import your bank account information, set budgeting limits, and plan your savings.
3. Best financial app to find ways to save money to pay off debt
The tool: Mint
Cost: Free
Availability: iOS, Android
How it works: Keep your funds right where they need to be with Mint. Tracking what you spend and showing you where you can save, this money management app provides insight into your cash flow so that you can find more money to put toward your debt payoff strategy.
4. Best free financial app to help you pay off your debt
The tool: Undebt.It
Cost: Free
Availability: Online, web-based application
How it works: Get out of debt using this free debt payoff calculator that will generate a custom debt payoff method based on your preferences. It automatically adjusts payoff amounts as your balances decrease and your finances change, so you don’t have to think about it.
5. Best free financial app for zero-based budgeting
The tool: Savvy Debt Payoff Planner
Cost: Free
Availability: iOS, Android
How it works: Leave no dollar uncounted when you use this financial app intended to help you stay on-track for zero-based budgeting. The intuitive app examines your accounts, credit cards, loans, and bills to automate your debt payoff in the most effective way.
6. Best financial app to convert change into credit card debt payments
The tool: Quoins
Cost: $4.99/month
Availability: iOS, Android
How it works: Automatically converts spare change from rounded up purchases into debt payments for up to 5 connected debt accounts. This financial app is an easy way to automate debt payments or contribute toward your personal savings goals.
7. Best financial app with a loan calculator
The tool: Unbury.Me
Cost: Free
Availability: Online, web-based application
How it works: This is a web-based app, so you can’t download it to your smartphone, but it’s free and simple to use to calculate how much debt you have and manage your debt payoff strategy.
8. Best financial app to get a clear picture of your money
The tool: Marcus Insights
Cost: Free
Availability: iOS, Android
How it works: This app uses a collection of tracking software and smart tools to give you a snapshot of your finances alongside suggestions to help optimize your finances. By linking your accounts, you can learn the breakdown of your expenses and monitor your cash flow can help you see what’s needed to pay down debt quickly.
9. Best financial app to help couples pay off debt
The tool: Honeydue
Cost: Free
Availability: iOS, Android
How it works: Integrate your joint bank accounts into this app so that you and your partner can both get a clear look at your finances as you work to pay down debt. The chat feature lets you talk back in forth in the app about your bills and overall financial health.
10. Best free financial app to organize your bills as you pay off debt
The tool: Prism
Cost: Free
Availability: iOS, Android, Windows, Amazon
How it works: Automatic bill pay tracking and due date reminders means you never have to worry about missing a payment again. See all of your income, bills, expenses, debt payments, and savings all in one place
11. Best financial app that monitors you credit while you pay off your debt
The tool: CreditWise
Cost: Free for 30 days then $9.99 to $19.99 per month
Availability:iOS, Android
How it works: From CapitalOne, this financial app is an easy tool to monitor changes to your credit as you pay off debt. The app’s simulator feature helps you see how specific actions like paying down debt can affect your credit score.
12. Best financial app to track your debt payoff
The tool: Debt Payoff Planner
Cost: Free
Availability: iOS, Android
How it works: This ad-supported digital finance planner does include ads and you have to add your financial info manually, but it’s a great financial app to help you compare different ways to pay down debt, keep tabs on your progress, and make adjustments easily.
13. Best financial app with customization
The tool: Simplifi by Quicken
Cost: $3.99/month
Availability: iOS, Android, web-based
How it works: Set your financial goals, view your progress, and see exactly how your budgeting and debt payoff strategies are working for you with this easy-to-use financial app. Customized spending plans, insightful finance reports, and tracking tools help keep you on-target when you’re trying to pay down debt.
14. Best financial app to manage savings and investments while paying off debt
The tool: Digit
Cost: $5/month
Availability: iOS, Android
How it works: Simultaneously keep track of your investments, monitor your savings, and continue to pay off debt with this all-in-one money app. No matter your financial goals or spending habits, this financial app can help you make a money plan and stick to it.
15. Best financial app to pay down debt with a simple layout
The tool: Debt Manager
Cost: $0.99 download
Availability: iOS
How it works: With simple settings that are easy to adjust, this app is an easy tool to help you manage your debt payoff strategy and make changes as you see fit.
16. Best financial app to see how paying off debt affects your credit
The tool: Experian
Cost: Free
Availability: iOS, Android
How it works: With the Experian app, you can view your FICO score anytime to see exactly how your debt payoff strategy is impacting your credit. The app also alerts you to changes in your credit and lets you file credit disputes for free.
17. Best financial app for the snowball method on iPhone
The tool: Debt Payoff Assistant
Cost: Free
Availability: iOS
How it works: This easy-to-use financial app for iPhones uses the snowball method to help you manage your debt payoff.
18. Best financial app that uses the snowball method on Android
The tool: Debt Snowball Calculator
Cost: Free
Availability: Android
How it works: If you use an Android phone and want to manage your finances to pay off debt using the snowball method, this is the financial app you need.
19. Best financial app to turn change into student loan payments
The tool: ChangEd
Cost: $3/month
Availability: iOS, Android
How it works: Rounds up your purchases to the nearest dollar and automatically converts that amount into a payment toward your student loan debt. Spare change can also be directed to specific savings accounts to help you achieve long-term financial goals with ease.
20. Best financial app for budgeting while you pay off debt
The tool: You Need A Budget (YNAB)
Cost: $14.99/month or $99/year
Availability: iOS, Android
How it works: One of the most flexible financial apps available, this budgeting tool helps you better understand where your money goes and make a plan to help pay down debt and add to your savings.
21. Best basic financial app that keeps track of your debts
The tool: Debt Free App
Cost: $0.99
Availability: iOS
How it works: Using the snowball method to pay off your debts, this app gives you insight into your payoff progress with colorful charts. You do have to enter your own debt information, but it’s a simple app to help keep track of where you’re at as you pay down debts.
22. Best financial app that graphs your debt payoff progress
The tool: Debt Strategy
Cost: $0.99 download
Availability: iOS
How it works: Enter and track all of your debts in this intuitive app to find which debt payoff strategy is right for you. View charts and graphs that show projections based on various payoff amounts and timelines to make the best debt payment decisions.
23. Best financial app for your desktop to help you pay off debt
The tool: ZilchWorks
Cost: $39.99
Availability: Windows
How it works: This app takes your spending and expense data and turns it into actionable steps to get your out of debt. Though this is a desktop-only app, it gives you a quick and efficient debt payoff plan with easily affordable monthly payments.
24. Best financial app for envelope budgeting
The tool: Qube Money
Cost: Free version with paid upgrades available
Availability: iOS, Android
How it works: If you’re looking for an app that can transform your envelope budgeting strategy into digital form, this is the easiest option available. Get a look at your finances in real-time and see where your money is going, just as if you were carrying cash.
25. Best financial app for purposeful spending
The tool: Goodbudget
Cost: Free version with paid upgrades available
Availability: iOS, Android, web-based
How it works: This budgeting tool helps you keep your spending on track using the envelope method in virtual form. Instead of physically dividing your dollars into paper envelopes, Goodbudget does all of the work digitally and syncs the data with your entire household.
26. Best financial app to lower your bills as you pay off debt
The tool: Trim
Cost: Mostly free; bill pay negotiation costs 15% of first year savings
Availability: Online, web-based
How it works: This financial app examines your spending habits to show you what money moves will save you the most. Expert bill negotiators help you lower your expenses, cancel subscriptions, and find opportunities to save. Then, you can use the money saved to pay down your debt.
27. Best financial app for overspenders paying off debt
The tool: PocketGuard
Cost: Free version with paid upgrades available
Availability: iOS, Android
How it works: Developed to help users optimize their spending, this budgeting app is like a money reference guide right in your smartphone. It tracks expenses and guides you to spend less than you earn in order to build savings that you can then use to pay down debt.
28. Best financial app for when you get everything set the way you want it
The tool: Qapital
Cost: $3/month
Availability: iOS, Android
How it works: Once you’ve paid down your debt and are ready for a “set-it-and-forget-it” style financial app, Qapital is one to consider. This app lets you set big goals and plan investments, then contributes set amounts to each account automatically based on your settings.
29. Best financial app for a spending breakdown
The tool: Rocket Money
Cost: Free version with paid upgrades available
Availability: iOS, Android
How it works: This app shows you how much you spend and where you spend it, automatically alerting users to spending changes and their potential financial impact. Automatic savings features, credit score tracking, bill negotiation, and budgeting tools help keep your finances on track as you pay down debt.
30. Best financial app that keeps track of everything in one place
The tool: NerdWallet: Money Tracker App
Cost: Free
Availability: iOS, Android
How it works: Whether you want to examine your cash flow, see what your investments are doing, check how your debt payoff has helped your credit score, or check into home refinance options, this app does it all.
31. Best financial app to see where your money goes
The tool: Copilot
Cost: $8.99/month or $69.99/year
Availability: iOS
How it works: This streamlined app lets you see each and every dollar coming in and going out. Keep track of your daily spending, review payments made, get bill pay reminders, and customize settings to get the most out of your budget. Zoom out and see an overview of your finances or take a closer look at a single debt payment.
32. Best financial app for long-term planning
The tool: Monarch
Cost: $14.99/month or $99.99/year
Availability: iOS, Android
How it works: When you want to reach big financial goals, this app can give you personalized suggestions to help manage your money and make the most of every dollar, even as you work to pay down debt.
33. Best financial app for short term money goals while paying off debt
The tool: Daily Budget Original
Cost: Free
Availability: iOS, Android
How it works: If you’re leery about connecting a bank account to an online platform, this financial app lets you enter all of your information manually. Once everything is entered, you can set specific goals to calculate how much you can save or spend each day based on your overall financial state.
34. Best financial app for organizing your expenses
The tool: EveryDollar
Cost: $12.99/month or $79.99/year
Availability: iOS, Android
How it works: This app gives you the ability to control where each dollar you earn goes. Personalize your expenses and budget, keep your savings goals on track, and plan your debt payoffs and bill payments right in the app.
35. Best financial app to keep your spending in check
The tool: Weekly
Cost: $7.99/month or $47.99/year
Availability: iOS
How it works: If you’re prone to overspending, this financial app can help you set a weekly spending limit that’s tailored to your specific budget and money goals.
The bottom line
With so many easy-to-use financial apps available to help you pay off your debt, there’s no reason to let money stress continue to weigh you down. Find the app that works for your budget, make a plan, and start getting out of debt today.