Getting the Best Personal Financial Advisor without Spending a Penny

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Thanks to technology, we live a life of instant pleasures. We like a new shade of lipstick from Nyx, we hit buy. We like the new pair of Steve Madden up for sale at a 40-percent rebate, we click buy. We like a new Michael Kors handbag that’s on sale for flat 50-percent off, we hit buy. And, why not? It looks like we are practically making money on those deals. The mortgage payments or the interest on our college loan can wait till the end of this month.

But at the end of the month we find ourselves rich on high-fashion and poor on real-world cash, sitting beside a bowl of ramen holding a bunch of over-due bills. Honestly, can we even be blamed for this new nuance of urban poverty? In reality, we almost always have enough money to support our life (err, fashion) choices. What we really need is a good financial advisor.

A good financial advisor doesn’t have to be flesh-and-blood or paid, “he” can be a 20Mb app on your smartphone “who” can help you make smart choices. So, say goodbye to the mid-night binges and untimely wrinkles, and start working together with one or more of the suggested finance apps to manage your personal finances like a dream!

Unbury.Me – Unbury.Me is the spender’s delight. This is free (yes, more reason to celebrate) and it helps you to find a way out of your debt-full misery. It has a very simple calculator tool that helps you see the silver lining. You can choose from among two effective payment choices:

Ø  The debt snowball method

Ø  The avalanche (or highest rate) method

The way to go about finding the suitable option is to incorporate your debt information and compare the debt reduction methods for maximum efficacy. Just input your monthly earning amount (go ahead, don’t be shy! It’s completely private) and the update will show the remaining balance complete with the payable interest and a tentative date for debt liberation.

Debt calculator – This is another wonderful free app for all smartphone users that give you access to a consolidated calculator. You can pool in information from all your credit cards including the monthly interest rates to calculate how much you need to pay at the end of the year. You can choose from among three working plans:

Ø  Minimum payment method

Ø  Fixed payment method

Ø  Debt-free deadline

The last option gives you a clear idea of how your monthly payments should be divided out to achieve a debt redressal by your preferred tentative date. You can use the calculator to calculate the amount of a debt consolidation loan that will be enough to help you out of a sticky situation.

Debt Payoff Planner – Debt Payoff Planner is a must on every netigen’s phone. This app doesn’t require log-in information. It only asks for your debt information and monthly payment budget. You can choose your preferred strategy to calculate your feasible budget by:

Ø  The Debt Avalanche method

Ø  Dave Ramsey’s Debt Snowball method

Either way, the Debt Payoff Planner does all the real work for you. You can also find out the exact amount of debt refinancing loan you may need to take out to become debt-free by the end of the year.

Debt Eliminator – Debt Eliminator is a wonderfully customized plan created by Suze Orman. This is fully safe and private since it does not store any information provided by users. Just provide your name, number of credit cards and loans. Do not forget to mention the amount of money you can put towards clearing your loans each month.

A separate row is generated for each debt and that will give you a clear overview of your balance. Keep adding the details till every source of expense is covered and then hit “Find Your Plan” for the ultimate debt payoff plan.

Mint.com Financial Goals – Another great free financial planning and debt recovery app that requires nothing more than linking your credit card account or your loan account. You hardly have to post any update manually on the Mint.com Financial Goals account since all the relevant info are automatically pooled in. you will be presented with a particular goal amount, payment plan review options and estimate the monthly payment amounts. Using the Mint.com Financial Goals app you can even transfer requisite balance to your credit card with low interest rates.

Debt Consolidation Calculator – This is meant for all the iPhone users who may be feeling a bit low on cash after the iPhone 7 hit the markets. You may not have cash at the moment, but you can definitely make use of this cool, free financial application meant for all iOS users. The Debt Consolidation Calculator needs nothing more than the details of all your current loans to calculate the upcoming financial moves on your part to get you out of the loans faster. You can use this app to calculate the most effective debt refinancing loan that will help you with your current financial situation as well.

For easy visualization of your financial progress, you can make use of the graphs that show you current loans, consolidation loans, avalanche payments and snowball payments on one screen.

 

Managing finances may not be rocket science, but it isn’t a child’s play either. There are situations where we do wish we had paid more attention to math class. But, thankfully, we cannot go back in time to put ourselves through the despicable torture once again, we have these impeccable finance apps. These apps are fun to use and extremely effective in calculating loan payments and debt consolidating loans.

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