Debt Manager

Name: Debt Manager
Rating: 4.56992 (472 reviews)

Finance

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Debt Manager

Finance

4.6

472 ratings

Age Rating

Seller

MH Riley Ltd

View in App Store

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User Reviews for Debt Manager

Great Tool

***update after using app for a year: Still a great one. I’ve gifted it twice and recommended to multiple colleagues and friends. Developer is still super responsive and I finally understand how to export a table showing what payment to make where by month. Just purchased another one of his apps and downloaded two or three freebies. Thanks so much. Keep up the good work.***This tool is awesome. Very customizable to suit your payoff style. Give you a great plan to get that debt paid off. We will be out of debt - even our mortgage - 12 years early if we follow this plan. Also, the developer is super responsive! I emailed a question and heard back in less than a day. I highly recommend this app to save you money, time, and headaches!

AKcL, Jan 16, 2019

Having small issues with calculations

I really like the app and it has helped me keep things organized and helped me get my payments back on track and on time. As a result, since I’ve been using this since February, my credit score has gone up a little, which is needed since my student loans kill it, and two creditors that had previously decreased my limits (which was fine by me, less temptation) have since raised them again.I have one complaint regarding entering new payments. I set everything up in February, so all of my charts and individual tables start in February. When I went to add a new creditor, it backdated the “start” date for the payment plan to February, even though it is May. I tried deleting and re-entering and I tried looking in settings but it always goes back to the original month I entered everything. This needs changed. My interest rates/interest per month have also been out of whack. Some are right on track, some are off by 4 or 5 dollars. So to keep my monthly statements on track with this app, I’ve had to add a bunch of “one off purchases”. I’m not sure why this is happening. I’ve double checked all my balances and interest rates and still am having issue. It’s not a huge deal, but it isn’t working properly.

aperfectpisces, May 20, 2019

Love it!

This app is very malleable and customizable. You can change one month without altering the overall plan. You can even have a credit card with two different APR's due to a promotion or a balance transfer. I love how you can see debts presented in graph, table or summary. The one thing I would change is that it would be nice to be able to see a synopsis of each month, and how much money is being spent that month on total payments and then a further breakdown of total spent in terms of interest or balance paid down. The app already shows that breakdown per account and over the life of the debt. I would just like to be able to see on a monthly basis all debts together and how much I am spending in order to plan short term.

DebtBgon, Oct 15, 2017

The app is great, wish it had one more thing

I’ve used this for my snowball with great success. But I’ve downgraded it by one star because it lacks one feature that is VERY important to me: the ability to create and track multiple independent paydown plans. I have two kinds of debt: health-care related and non-health-care related. Because these are paid from different funding sources (HSA vs checking acct), they cannot be co-mingled. For example, if I payoff a hospital account with my HSA, the snowball should move to my physician’s account rather than a credit card account, because I cannot legally use those same HSA funds to payoff my credit card.If the app had the ability to track multiple paydown plans independently, then I would put all my health care debts in one plan (with its own snowball), and all my consumer credit debts in another plan (with its own snowball, maybe even a different strategy).Once it supports that, then I’ll update my review to add the final star.

godscreation, Feb 28, 2018

Great App

I like this app because it’s a visual to keep you on track toward bill payoff. Kind of like tracking weight loss I guess...seeing the balances come down continues the motivation to stay the course. My only problem is that once you pick a “balance as of” date and enter that information, you can’t change it without the app backdating itself. As an example, as the Fed interest rate rises, obviously so does the rate on my revolving debt. If I change to the new rate, it “back dates” that rate all the way to when I started the process which in my case has been over a year. This obviously skews current balances. You can’t start with an interest rate on a particular date then change that rate months down the line to be effective on a new date and continue the process. You have to delete your current payment information and re-enter it with all new data (balance, effective date, min payment, due date, snowball amount, etc). It’s not a HUGE deal but you kind of lose the visual of all your previous hard work and are starting with a clean slate all over again. But overall, I really do like the app. Balances maintained pace within pennies of statements and it really is “addictive” in that you do become very motivated to reach your goals.

Jbarzeke1, May 03, 2018

Great app for tracking and dealing with your debt 👊

I love this app; great design, lots of useful options and cost only a buck! Takes little time(at least for me and I’m not an Einstein)to learn how to setup everything, once you’re done you good to go dealing with this horrible human invention - lending money with interest! Just don’t, unless it’s a mortgage or you’re building a history to get one, just don’t do it, it’s the biggest scam of our generation — credit cards! I recommend everyone to get this app and put all your debt in to it and look at it everytime you want to open credit card or use one, just to see how much more you gonna pay for all the goodies in a long run, and it’s gonna be a loooong expensive run for majority of us, sadly...One thing I wish they can add to it, profiles, so you can have multiple peoples debt on single device, other then that, awesome app! Thank you developers!!! 👍

KACTET, Oct 08, 2018

Snowball? Snowflakes? WTH!?!

I’ve definitely heard of the Dave Ramsey method for financial freedom, but wanted to do my own version using a little bit of customization. I’ve been looking at tons of apps for almost 6 months. Looking at top rated ones, free ones, paid ones highly reviewed ones and little know ones. I pretty much gave up. I, in fact, started to program an excel spreadsheet because none satisfied all my requirements....... until now. This app allows you to input your data then review the lowest balance, highest interest rate AND a custom choice. It allows you to include debts that are not included in the snowball method as well as the ones you are going to use the method on. It lets you have a good grasp on all your financial debt. I just started to scratch the surface, there appears to be some reports but I will be learning that as I get further along. This app does not disappoint. Is it for everyone? I don’t know. But it is the exact right one for me. It is a paid app but I have more than gotten my money’s worth on this one. In fact, I’m so happy I don’t even begrudge the money I spent on the other apps as it helped me see what I didn’t want and appreciate this little gem! How good is it? Ive already shown it to my son to help him with his debt and talked about it to several of my less financial literate friends! If I could give it more than 5 stars I would!

Not so blue, Mar 04, 2019

Like it a lot but could use fix

Really like this app. Could use a fix though. I think most that use this would like to at times change their additional snowball $ amount. Sometimes people have setbacks resulting in less cash or have more cash to use or would like to change how aggressive they are with paying things off. But when I try to do this , I notice that the balance remaining gets messed up which I am guessing also messes up money saved, time saved before payoff, and date of payoff as they would be based on this also. And for every debt after that on the list too. It looks like that is because it applies that change also to payments made previously that were not made at that amount but at the previous amount. It really would be helpful if changing the amount would rebalance only for payments made after the change. I hope this is a change / update that can be done because other than that, I think this app is great!

Redzone11, Nov 09, 2022

Love it!

This app has helped us tremendously and I’ve recommended it to quite a few people. We went from a lot of debt to nothing but our mortgage and vehicles. We now have an amazing interest rate on our home and pay off credit card balances each month. We only use cards with rewards so they pay us to use their card. We pay zero credit card interest. This app has helped us create a plan and completely turn our financial situation around. We’re pushing to pay our mortgage off in the next five years now. Thank you for creating this app!

SRO07, Apr 28, 2022

Simply Excellent!!!

I really like this application. It actually works as advertised. I've used 5 other applications purporting to compile, analyze, and offer a reasonable strategy based on the "snowball" theory and this is the only one that actually works without error. I'm no financial expert, just a regular guy trying to escape the morass of debt and I highly recommend it. This program will Really help you achieve your goal to eliminate debt within a reasonable time. Entries and calculations are effortless and I especially like the "snowflake" feature. Try this APP, you will not be disappointed!

To cox, Nov 11, 2015

Description

*** No. 1 Ranked Finance App in the US & UK *** 'Debt Manager' has one aim - To help you GET OUT OF DEBT FAST! 5-Stars - "By Far, This is one of the best Money Apps that I have seen. Fantastic, Great Job" 5-Stars - "This app is worth every penny.. Great info and breakdown..

I am so looking forward to being debt free!!" 5-Stars - "This app is three things: Simple. Effective. Spot On." 5-Stars - "The details, features and thought that went into creating this app are endless." 5-Stars - "Super easy to use; choice of strategies to choose for to pay off debts. Most helpful app for paying down debt I've come across." Debt Manager helps you to organize, track and pay off all your debts in the cheapest and fastest possible way. It does this using the Debt Snowball method, which is recognised by leading financial advisors as the most effective way to pay off multiple debts. You will be amazed at how much time and money you could save by applying this simple strategy, and this app will show you how. So if you want to become debt free, get started now! *** Features *** -------------------- √ Simple and intuitive user interface - helps you see results quickly and clearly √ Hints and tips - don't worry, we will guide you through the process √ Summary shows your payoff progress - includes progress bar, your debt free date and your interest/time savings √ Choose from multiple pay off Strategies - Lowest Balance First - Highest Interest First - Highest Balance First - Custom Order √ An unlimited number of debts can be entered - each debt can be individually analysed - payments may be entered as a percentage of balance - support for introductory rates e.g. 0% for 6 months √ Monthly Payments may be recorded - either automatic or manual recording - allows you to keep track of your progress √ Backup & Restore - use popular Dropbox service for online storage - keep your data safe - manually sync between devices √ Choice of payment periods - handles monthly, weekly and fortnightly payments √ Extra Payments can be entered against each debt - helps pay off your debts even faster - can be entered Monthly, Yearly or as a One Off √ Transactions can be entered against each debt - allows you to take into account expenses/purchases - can be entered Monthly, Yearly or as a One Off - will increase the debt balance √ Try out various 'What-If' scenarios e.g. - a change in interest rate - increased monthly payments √ Export the debt details via Email - professionally formatted PDF or HTML - export individual debts or overall summary - includes full amortization schedules - charts are attached to the email export √ Interactive reports - easy visualisation of the debt breakdown - compare debts side by side - press, hold and slide to see the costs per month - pinch to zoom √ Set of Calculators are included to help you compute: - monthly payments - extra payments - payoff date - refinance benefits √ Notification of payments due - so you never forget to record a payment √ Passcode protection - keep your data safe √ Full manual is embedded within the app - has all the info you will ever need