In these tough and trying times this app may help you with your debt planning – at least it’s free today, so that should help a little. Why not download this app and see if it works for you?
If you wondering which credit card or loan to pay off first? How long it will take you to become debt free? The Debt Payoff Planner app for Android can answer these important financial questions and help you manage your debts simply and strategically.
Dealing with Debt
For most people today, managing debt is just one more aspect of good financial planning. Whether you are dealing with school loans, car payments, credit card balances, or other debt, you need to have a solid plan. This app allows you to compile all your loan data in one place and analyze payment schedules and strategies.
Crafting a Custom Payment Plan
You don’t need an MBA to use Debt Payoff Planner, and it won’t take hours of data entry. Simply input each loan or card balance, the interest rate, and the minimum monthly payment. Then select how you want to pay them off: highest balance first, lowest balance first, highest interest first, minimum payments only, or a user-specified order. Finally, enter the total amount you want to pay toward your debt each month.
With a touch of a button, the app then calculates your customized payment plan and amortization table. It tells you how much to contribute toward each debt every month, how much total interest you will end up paying, and exactly when you will be debt free. See details by touching any month in the plan. The app can even display your payment plan visually with colored charts and graphs.
Flexible and Connected
What if you want to make intermittent extra payments toward a loan? The app contains a feature allowing you to factor those into your plan. How about if you get a special promotional interest rate? Debt Payoff Planner has that covered as well.
You can export your payment plan information any time you want by sending a .csv file through e-mail. You also have the option of linking your data to Payment Scheduler, a sister app that can help you keep track of your individual payments and their due dates.