As our elected officials negotiate down to the wire in order to avoid the economic “death spiral” that might result from a failure to reach a deal on the debt ceiling by August 2, 2011, we thought it an ideal time to feature those mobile apps that go a long way to helping people avoid getting themselves in a similar pickle. After all, there aren’t too many of us out there who can raise our credit limits at will, particularly when we haven’t paid the bill in several decades.
- Credit Card Debt: The folks at the spendonlife.com blog recently noted that the Credit Card Debt app will give you a “simple and clear picture of all your debt.” The app organizes all your outstanding debt into one simple interface, allowing you to calculate your credit utilization and help bring your debt down to manageable levels.
- Debtbuster: This app might look easy to use, and it is, with a friendly, color-coded hot air balloon icon to let you know how you’re doing, but it’s also a sophisticated and comprehensive piece of debt-management software. It includes a monthly budget feature, a simple money management algorithm, and a host of useful money-saving tips to help get you through the leaner years.
- Debt Tracker: This user-friendly app does precisely what its name advertises: it lets you track all your outstanding debt and calculate the time required to pay it off. And while it’s certainly useful for personal finance, the app is capable of managing thousands of accounts and can be used by small and large businesses.
- Coupon Sherpa: Of course, if you’re trying to avoid getting into debt in the first place, this free app can help you do exactly that. With Coupon Sherpa you can scan coupons by category, or acquire coupons for the store nearest your present location. No more paper cuts on a Sunday morning: this app provides coupon bar codes that can be scanned directly from your phone’s screen into the grocery store’s register.
Of course, there’s no app out there that can keep you from spending irresponsibly, but if you’re looking for ways to manage your debt efficiently, hopefully these will help.