Being in debt can be an incredibly stressful experience, sometimes it’s difficult to see light at the end of the tunnel. To help you start reducing your debts today, check out these handy tools and tips.




Quoins is an app that helps users to pay off debts, or save money. All you have to do is connect to your accounts, and set your preferences. The Quoins app takes your spare change and puts it towards your debts. It’s a great way to reduce your debts, without two much effort. According to Quoins, the app can help you to ‘get out of debt, on average 2 years faster than planned.’ There are plenty of advantages to using this app, including:

  • Improve your financial health.
  • Increase your credit score.
  • An easy way to manage your debts.


Debt Snowball Calculator 


The Debt Snowball Calculator is an excellent tool to help you pay off your debts. The app includes multiple currency features, a loan calculator, and a customized schedule for your debts. The first step is to enter your loans and debts, the next step is to put in a monthly payment scheme. The app encourages you to choose a debt payment strategy, depending on your needs. There are several strategies to choose from, including:


  • Debt Snowball, which means starting with your lowest balance.
  • Debt Avalanche, this method means that you start by paying the highest rate.
  • Debt Snowflake, which involves making an extra payment on a loan (one time basis).
  • Custom plan, design a plan to suit you.


Debt Payoff Assistant App


The Debt Payoff Assistant app supports you to pay down debts, with the Debt-Snowball method. It’s one of the most popular debt techniques, recommended by many financial experts. Once you’ve made the minimum payment on each account, you put your remaining funds towards the lowest balance debt. The idea is to continue paying your debts in order, causing a snowball effect. The app has lots of great features to try, including:


  • Calculators for your pay off date.
  • Handy Loan calculators.
  • Calculate your mortgage.
  • Debt reports & charts.
  • Custom ordering.
  • Different debt reduction methods.


Every Dollar App


Want to get rid of your debt fast? Then the Every Dollar app is the tool you need. It’s a budgeting app which makes it simple to plan your finances, and stay on track. Budgeting can be a stressful experience, but not with the help of this app. You can create a budget in minutes, and start making some great savings. The app uses the ‘zero-based budgeting method’, which gives every dollar a job to do. Budgeting is the key to increasing your savings and chip away at your debts. There are plenty of budgeting tools available, depending on your needs. A few of the main features of the app include:


  • Create savings goals.
  • Customize your budget.
  • Adjust the budget with ease.
  • Monitor your spending.
  • Split expenses as you please.



Sell unwanted items


If you want to free up some money, consider selling your unwanted items. There are lots of apps you can sell second hand stuff, including Wallapop and Facebook Marketplace. You might not be able to sell items for lots of money, but every little bit helps when you’re reducing your debts!


Avoid luxury purchases


To get out of debt faster, you’ve got to be more mindful of your spending. Avoid luxury purchases, and focus on items that you actually need. Before you make a purchase, think carefully about the item. Ask yourself:


  • Is this item worth the money?
  • Could I buy it cheaper?
  • How often will I use it?
  • Could I live without this item?


Negotiate with providers


Try negotiating with your credit card companies to get better interest rates. Alternatively, you might try a balance transfer to a zero interest rate card. Use the Pocket Guard app to search for cheaper deals on your internet, gas company, or phone tariff. There are savings to be made if you shop around. Consider all the extra expenses you have and research how you could reduce these. Whether it’s modifying alimony payments or switching car insurance providers, there are ways to reduce your monthly outgoings. When you reduce your outgoings, it’s far easier to pay off your debts.

Before you start it might be useful to set some debt goals. Focus on which debts you want to pay off first, and give yourself an approximate time frame. With a few goals established, you’ll find it easier to focus your efforts.


(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)