Are you tired of owning money on your mortgages, credit card, or any other line of credit? If yes, it is time you get serious about paying off this debt. The first step towards debt management is adding up the total amount you owe on every account and appending it the interest charged by every creditor. The biggest challenge most people face is what to do when you have these numbers handy. In this scenario, having a debt management tool can be pretty helpful. The tool will help you stay on top of your debt and pay it ultimately. Which is the best debt management tool for you? Here, we have rounded up some effective tools that you can try.

Quicken
It is a company that provides you with a tool that helps in in-depth financial tracking. Their money management tool helps you with debt reduction and enables you to view your complete financial standing under one head. This will include your loans, investments, bank accounts, and every other financial detail. With its user-friendly interface, you can see your pending bills and make payments directly from within the app. Further, Quicken also helps you draft a debt reduction plan, track all your spending with a tool that enables you to search the transactions and know where your money goes.

The software has been around for more than three decades, and over 17 million people use it. Quicken provides you 256-bit encryption, which guards your data. Also, there is a 30-day moneyback guarantee. So, you can test the waters. If you do not like it as much, you can seek your refund.

For their basic plan, you will have to pay around 35.99 USD annually. However, you can further upgrade to a more Deluxe plan, which will cost you about 46.79 USD per year. In the Deluxe plan, you can prepare a budget and keep a tab on your debt. The third is their Premium plan. In this, there is a bill pay software. More so, customers with Premium plans get priority customer support access.

Debt Manager
Debt Manager employs your debt information and produces program bar graphs, which can help you see how far along you are in each of your pending debts, the amount pending to be paid, and the interest rate. This application typically focuses on the Snowball method for tracking and paying off debts more efficiently and quickly. In this interactive application, you can find many tips and hints personalized according to your prevailing debt situation. This debt management tool also helps you keep a tab on your monthly payments within the app, both automatically and manually.

Undebt.it
It is a free debt reduction tool, which helps you draft a personalized plan for debt repayment. You can utilize debt avalanche, debt snowball, or even a personalized method to prepare your plan. One of the best things about Undebt.it is that even if one plan does not work out, you are not stuck with it. You can conveniently switch between the plans to look for the one that best works for you. All you have to do is provide your debt information, and the software will cater to all the calculations. The tool can accommodate countless debt accounts. So, you can consolidate all your debt under one hood. You can even use the app to keep a tab on your projected payoff date and the cumulative interest amount you have to pay before reaching that date.

The tool also lets you draft an account to save your debt information. You can even use the calculator sans an account. Undebt.it’s basic plan is free. If you need more premium services, you can upgrade at only 12 USD per year. This will provide you access to saving challenges, bill management, payment reminders, and multiple other integrated features.