Best Apps To Help Pay off Debt in October 2024

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Paying off debt is hard, especially when inflation is making it harder to buy the everyday essentials. Sometimes, you just need a bit of guidance. 

Thankfully, there are many apps and services you can use to help you pay down your debt.

These apps can offer support, advice, and different strategies to save money on interest, reduce your monthly payments, and become debt-free sooner!

Best for Simplicity: Unbury.me

• Cost: Free
• Availability: Website only

Unbury.me is one of the simplest debt payoff websites. You simply input your loan details and see your results. 

While you don’t need an account to use Unbury.me, it’s a good idea if you want to look at your information later, so you don’t have to type in everything again.

The purpose of Unbury.me is to see how long it will take to pay off your debt if you only make the minimum payments. However, you can also play around and see how paying extra can reduce your total interest and cut down your debt repayment timeline. 

You’ll have to type in all your loan details manually — the website doesn’t connect to your accounts. This can be frustrating if you have a lot of debt and want an app that automatically syncs with your loans. 

Unbury.me shows you two different ways to tackle your debt: 

1. Paying down the loan with the lowest balance (also known as the debt snowball) 
2. Paying down the loan with the highest interest rate (also known as the debt avalanche)

This site has been around for years, so you can trust its staying power. It also doesn’t try to sell you on different offers, like debt consolidation loans or new credit cards.

Best for Functionality: Undebt.it

• Cost: Free for basic features; $12 annual fee for premium features
• Availability: Website only

Undebt.it helps you see exactly how much you owe and how long it will take you to pay off your debt. Plus, Undebt.it lets you try it out without having to make an account first.

You can’t sync your accounts automatically — you have to add them manually. However, it does have more functionality than other free sites. For example, you can add the highest starting balance, as well as your credit limit. 

It also tracks your credit utilization, which is the second-biggest factor making up your credit score. 

Even though the site is free to use, there is a paid premium version that comes with special features like bill payment reminders, custom debt payoff plans, and savings challenges. It can also sync with YNAB and has no ads. 

You can decide if you want to use the snowball or avalanche repayment method. You can also switch back and forth between the two. There are no limits on how many loans or credit cards you can add.

Best for Balance Transfer Tracking: Debt Payoff Planner

• Cost: Free for Basic; $2/month for 12-month Pro subscription
• Availability: iPhone and Android

Debt Payoff Planner helps you organize your debts. However, you must sign up for the app before using the website — this can be a little frustrating if you prefer to handle your finances on your computer instead of your smartphone.

Creating an account is easy. Once you’ve opened your account, you can input information about your debts. Then, you’ll be able to view your debt payoff timeline. 

From there, you’ll see recommendations for payoff strategies, including the avalanche and snowball methods. You can also create a custom plan to decide exactly which debts you want to pay off first.

Debt Payoff Planner is one of only a handful of debt repayment tools that lets you add a special promo period for certain debts, such as a 0% APR on balance transfers.

Best for Motivation: Changed

• Cost: Monthly fee between $6 and $15; annual fee between $48 and $132 
• Availability: iPhone and Android

Recognize this app? You might know the name from “Shark Tank” — top Shark Mark Cuban decided to invest in the app.

With Changed, you can sign up for the round-up program, which will round up your transactions to the nearest dollar and put the difference toward your debt. You can pause round-up transfers whenever you like, for 15, 30, or 60 days. 

You will sync your actual loans to the app, so it will also have the most accurate data to calculate your debt payoff journey.

The app also offers a Perk Points program where you earn points for hitting repayment goals or if your friends and family members sign up. Having Perk Points will enter you into a raffle where you can win money to pay off debt.

Another interesting difference with this app is that other people can contribute to your loans. You can send your friends and family members the link so they can help you pay off your loans when it’s your birthday, Christmas, or whenever they feel like lending a helping hand. 

The features you have access to depend on the type of package you choose. For example, you can choose to split your round-up transfers between multiple debts if you have a premium plan. There is also a higher threshold for daily boosts and an unlimited number of bank accounts you can link.

Unlike other apps, there is no free version. You may want to consider how much you’ll save using it and whether the savings will cover the app cost.

Best for Syncing Accounts: Achieve MoLO

• Cost: Free; no ads
• Availability: iPhone and Android

Unlike other debt payoff apps, MoLO is designed to help you find opportunities to put more money toward your loans.

First, you will connect at least one checking account and one credit card to the app. Then, the app goes through your transactions to determine how much you normally spend, based on a three-month history — and how much you could allocate toward your loans. 

Then, the app challenges you to save more than the MoLO (money left over) estimate.

The app will also suggest things you could do to pay off your debt faster. They also have challenges that you can do to earn badges.

Achieve may recommend some of its other products to you, but you aren’t required to sign up for anything. They currently offer personal loans for debt consolidation, home equity loans, and debt resolution services.

FAQs

What should I look for in a debt payoff app?

This depends on where you are in your debt payoff journey. For instance, if you’re truly living paycheck-to-paycheck, you may be better off choosing a free app instead of a paid one. 

You may have to play around with several apps before finding the one you like. Most paid apps should have a free trial period. Just remember to cancel if it’s not right for you, so you don’t end up paying for an app you aren’t using.

Are there free debt payoff apps?

The idea of paying for a debt payoff app can seem counterintuitive. Why pay for an app when you’re trying to funnel any extra funds toward paying off your loans and credit cards?

Fortunately, there are many free debt payoff apps and tools. Some of the most popular options on this list are free for everyone or have a basic free version.

There are also many free budgeting apps that can give you insight into your spending habits. You can use this information to create your own debt payoff timeline.

Bottom Line: Are Debt Payoff Apps Worth It?

Inputting all your information in a debt payoff app can seem like a lot of work. However, this work may be worth it. Sometimes, people don’t feel motivated to make necessary changes until they see the numbers in black and white. 

When your debt is spread out across multiple credit cards and loans, it can be hard to understand exactly how much you owe, and how much you’re paying in interest. Debt apps put it all into one place.

For more tips on managing your debt, check out these episodes of the Erika Taught Me podcast:

• Money & Investing Pitfalls to Avoid
• How To Budget for Beginners
• Get Past Your Money Mistakes

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