5 Unique Tools To Eliminate Debt

Coronavirus has been difficult for many of us. You may be wondering how to cut spending and save on bills.

You may be wondering about whether you should pursue a hardship loan. Wherever you are at, there is technology that may be able to aid you in your quest to eliminate debt in these difficult times. 

In this article, the goal is to provide 5 different tools that will help you eliminate debt in a difficult season.

Google Spreadsheets Budget

tools to eliminate debt

You may not need a fancy application to help you get out of debt or budget. You could just use a free Google sheet budget template that will outline what your income and expenses are broken out by month. It may be more time consuming and manual than other options, but it is free.


Mint is an online free online budget planner tool by Intuit, which helps you to realize your debts so that you can control your spending for a positive financial prospect. 

Through Mint, you can plan your future expenditures to settle them in time. This app has an important feature that reminds you of the upcoming bills. Also, it offers you a friendly way to plan wisely with the “Goals” feature that keeps you informed when settling those bills.

Synchronize your accounts to make it easier for Mint to evaluate how much you must save in meeting your set objectives.

Keeping an eye on your progress is made simple, and with the extension of this planning tool presented, you have higher chances of managing your finances comfortably.


ChangED is an app that accumulates your extra change to settle off your learning loans. These loans are perplexing to settle them because they seem never to end.  It makes it uncomplicated to pay daily in efforts to reduce the accrued student loan.

It works by linking your bank account to your student loan account, and whenever you do shopping; the extra change is billed in settling the debt.

Despite keeping an eye on additional prospect bill, this tool makes it simple to resolve your bills. Beside the stress-free transactions, the app offers you a graphical representation of your savings, and also shows how many years you’re paying down by using those small payments towards your loan. By doing a simple, visual, and use of little savings, you end up boosting your student debt payment capability.

Debt Payoff Planner

A debt payoff planner helps you analyze a certain amount of money that you can pay monthly in order at a specific time. You can add all of your debt to the planning application, and it will do the rest.

There are many debt payoff planners out there, but you may consider a debt payoff planner that customizes the debt payoff method to you such as Savvy Debt Payoff Planner or a web app like given the number of features that it provides.

Reverse Mortgage Calculator

It is an app that can be used by the qualified elderly citizens to change shares of their property to cash.

Some requirements are compulsory for an individual to meet prior to the authorization. Most of the senior individuals use this model to settle their debts before retirement. It helps them to live a bit stress-free and more comfortable life not followed up by debtors on their retirement.

An example of this app is Reverse mortgage calculator, owned by Good life home loans, and it makes it easy for the interested people to know their status prior to getting a detailed loan summary.

When the loans are paid off fully, you can select the payment plans which your heart falls for. They include one lump sum, monthly payment, a line of credit, etc.

At first sight, it could be frightening to choose the best app to keep you debt-free. You cannot acknowledge that first, but in today’s world, some apps are genuine to our day, day out challenges.

In America, most citizens are living on debts with credit card debts among them, and this answers the question as to why there are so many apps created to keep people organized.

Everything is becoming automated even on staying debts free; technology has a hand in it. If your app does not suit your needs, then you’re free to look for help elsewhere.

You have to understand the kind of debt you have, and its advantage of paying it off swiftly and competently. 

Good Nelly - financial writer about debt elimination

Good Nelly is a financial writer who lives in Milwaukee, Wisconsin. She has started her financial journey long back. Good Nelly has been associated with Debt Consolidation Care for a long time. Through her writings, she has helped people overcome their debt problems and has solved personal finance related queries. She has also written for some other websites and blogs.