Best apps for debt reduction and money management

[Manyofhorror3]

Any recommendations?

Not phone app but I always recommend an old Microsoft PC application called MS Money (Deluxe Sunset Edition) which is free to download. Takes some time to set up all your accounts, direct debits, credit cards etc but, once completed, you can then record all your transactions, make budgets and forecast cashflow. There is a debt reduction section as well.

Thank you, will have a look.

I use YNAB and for me (as a previous MS Money user) I find it a much more proactive way to manage my money and budgets. There are iPhone and Android apps so you can stay on top of your budget whilst out and about. The software isn't free although there's a 30 day trial, and a lot of very good training material on the website that you can have a look at to get an idea of the method. Well worth a look.

if money is tight, get rid of your smartphone and the associated expensive contract. No-one really needs mobile internet.

if money is tight, you should be planning what you spend before you go out.

On another thread someone recommended an app called 'pocket expense', there is a paid or free version. I have downloaded it but not used it yet so afraid I can't recommend I myself yet.

If the main goal is actually getting out of debt rather than tracking every spending category, I’d lean toward an app focused specifically on repayment planning. On Android, Debt Payoff Planner & Tracker is worth considering because it supports both the debt snowball and debt avalanche methods, lets you compare payoff timelines, and has calculators for extra payments, interest, refinancing, and debt-to-income. It also keeps a payment calendar and payoff timeline, which can make the progress easier to follow month to month.

One thing I’d prioritize is being able to see how an additional $50 or $100 payment changes the payoff date. That kind of “what if” calculation can make a debt plan much more practical than simply recording balances.