Tired of having a negative balance? You’re not alone.
With 1 in 4 of us regularly dipping into the red, personal debt is on the rise in the UK. Whether you’re saving for something important or you’re just trying to free up your finances, stubborn debt can hold you back.
Thankfully, these finance apps and accounts can help take the hassle out of clearing debt.
1 Debt Manager
If you’re dreaming of a debt-free life, this app is a must. Straight-to-the-point and simple to navigate, Debt Manager will help you track your progress and stick to your repayments.
It isn’t totally automated; you’ll need to enter the values of your debt and update them as you pay them off. The perk of the app, however, is the “pay off strategies” function. You’ll see which debts make sense to pay off first and which ones you should prioritise.
The progress bar feature is great for keeping you motivated and giving you a clear idea of when you’ll be debt-free.
Download Debt Manager here >
2 Mint
The Mint app is a great way of keeping on top of your finances. With all of your financial accounts under one roof, you’ll be able to keep tabs on every penny you spend.
With its budgeting feature, it’s simple to work out a saving plan. The app calculates your average spending by category, so you’ll see your spending patterns laid out clearly.
Once Mint has figured out your spending habits, you’ll see personalised suggestions on how to cut back. If there are any savings to be made, you could pay them towards your debt.
Download Mint here >
3 MoneyHub
MoneyHub helps you confront your finances head on. The Spending Analysis tool shows you where your money goes each month, helping you see where you can save. And with its Spending Goals, you can create specific targets – ideal for working towards that debt-free figure.
The app also offers advice, too. With handy payment “nudges” and spending tips, you’ll have a helping hand when you’re working towards that debt-free goal.
Download MoneyHub here >
4 Cleo
Cleo takes the thought out of saving money. It intelligently evaluates your finances and withdraws any cash you can afford to save.
So instead of sitting down and manually creating a budget every month, you’ll just automatically put aside what you can afford. If you’re saving to pay off debts, Cleo will regularly transfer your spare cash until you get there – without you lifting a finger.
Download Cleo here >
5 Emma
Emma is a money management app that can help you pay off debts. It will analyse your accounts and make intelligent suggestions about how you could improve your finances.
From cancelling wasteful subscriptions to setting personalised budgets, Emma can help you stay on track to get rid of those debts – once and for all.
Download Emma here >
