Using the Debt Free app

Pt. 1 of 5 | 1:37 |

Staying on budget with your iPhone

Monday March 21, 2011

If you own an iPhone and want an easy way to

keep track of your debts

and pay them off in a timely manner, then you should try the

Debt Free iPhone app

. This app uses the

snowball method of debt reduction

pay your debts off

as quickly as possible. You can also

view financial reports

and

get notifications of when your debts are due

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Show Notes

- The Debt Free app ($0.99) uses the snowball effect to help users to pay off debt as quickly as possible.

- From the Dashboard, go to Debts and click the + icon to add new debts. Fill in the fields including amount, interest rate and category.

- Under settings, you can adjust your payment strategy to deal with debts that have the highest interest rate, the lowest balance or customize your own strategy.

- You can also choose how much money you want to contribute to the Snowball Amount. This amount will help you to clear your debts faster.

- Debt Free can also notify you about when your debts are due. Just click on Notifications under Settings.

- Easily view reports or a quick summary of your situation from the Dashboard.

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