DebtMinder Review: Get Debts Off Your Mind

DebtMinder Review-2

Rating: ★★★★☆

DebtMinder Review-2DebtMinder Review: A simple app that that gives you a clear view of your debts and a plan or two to pay them off.

Sometimes the simplest approach is the best and this is what DebtMinder {$1.99} excels at. It asks you to enter basic information for each of your debts: balance, interest rate, starting date, and minimum payment. By doing that for all of your debts, you are then ready to start developing a payoff plan. Decide on a total monthly payment and choose between two strategies; highest interest rate or lowest balance.

Once you’ve set your plan in place, the app will split your monthly payment among your debts and determine when each of them will be paid off. DebtMinder also displays the total interest you will save by sticking to the plan. It tracks your progress over time and helps you see that you’re making a difference.

DebtMinder works in conjunction with another app developed by return7, Bill Minder. A common account will allow information to be shared between the two apps. Data from DebtMinder can also be exported as a CSV file or backed up using email.

This app is not for financial professionals; there’s not a lot of fine-tuning possible. But that might be the best part of DebtMinder. It takes virtually no time to set it up (if you have the information together) and the limited choices keep you from playing mind games with the plan. Set it up and stick to it. Always a good plan when it comes to finances.
DebtMinder - return7
What we like:

  • Does one thing, and does it well
  • Simple to set up and enter information
  • Gives good information/overview of your situation

What to know:

  • Few options for modifying payoff plan

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Julie KuehlDebtMinder Review: Get Debts Off Your Mind