A screenshot from the Pay Off Debt app for Android
The Pay Off Debt app for Android is now available in the U.S. and Australian Android Markets. The app helps you organize your debt snowball while providing motivation.
A debt snowball is a way to systematically pay down debts. Using this method you pay minimum payments to all debts except one (usually the debt with the lowest balance.) You then pay the minimum payment plus as much additional money as possible to the selected debt. This process is repeated until all of the debts are paid off.
Search the Android Market to get Pay Off Debt now!
Pay Off Debt v1.0 for Android features include:
* Order debts in the order of your choice: from lowest balance to highest balance, highest interest rate to lowest interest rate, or in a custom order selected by you.
* Add, edit and remove all types of debts. Graphics for credit card, car loan, mortgage/HELOC, student loan, and generic debt help to visually differentiate the types of debts.
* Password protect the app if desired, and change the password to something else or turn off the password at a later date if it has been set.
* See progress bars on each debt to help motivate and encourage you, plus view a progress bar that shows how much of your total debt has been repaid.
* See estimated time left to pay off each individual debt.
* View the "planned debt-free date" on the Debts screen as an estimate of when all of the debts listed will be repaid.
* Ability to turn off the snowball if you'd like to compare how much time it would take to pay off each debt by just making minimum payments.
* Email the snowball information (list of debts, starting debt amount, current balance, minimum payment amount, due date, and progress made) to the email addresses you specify.
Photo:
http://www.prlog.org/
