Looking for an app that helps you pay off debt? We got you.
Paidback is an app that helps pay off debt.
I don’t know about for you, but for me, paying off debt initially felt extremely overwhelming. There are so many different conflicting opinions on which debt to pay off first, whether you should pay off debt ahead of schedule or save, whether to take on debt to help you meet financial goals (like starting a business or buying a house). It can leave anyone feeling extremely put out, to say the least.
But not with Paidback.
Paidback makes paying off debt simple and even fun. Here’s everything you need to know.
How the Paidback app helps you pay off debt.
Get a custom debt payoff plan.
When it comes to making a plan to tackle your debt, there’s not a one size fits all. The Paidback app helps you pay off debt by using AI suggestions based on your unique circumstances; it will create a custom debt payoff plan for you that best meets your needs and designed to save you the most amount of money possible.
It will help you discover ways to save money.
Paidback is designed to save you the most money possible on your debt. The app will help you find better loan products (i.e. lower interest rates on your debt) using custom AI suggestions. The app will also help you discover ways to save money with it’s debt calculators. You can calculate how quickly you’ll become debt free, how much you can save by taking certain actions, and how much you’ll need to pay towards debt if you’re trying to become debt free by a certain date.
The Paidback app keeps you motivated and accountable.
The Paidback app has a social feed where you can share your debt progress, follow other peoples’ journeys, and source the community via a status update bar. If you aren’t feeling like sharing, you can set your account to private. But, research clearly shows that sharing your progress will keep you motivated and accountable which will help you pay off debt even faster.
Track your progress in the app to help you pay off debt.
Tracking your debt payoff progress also helps you pay off debt. You can link your debt accounts so that when you make payments, they’ll automatically track in your feed. Or, you can manually enter in payments into the app.
Help from Debt Experts.
One of the best ways the Paidback app helps you pay off debt is by connecting you with debt experts. Not sure WTF to do with your debt? You can text Paidback’s debt experts any of your burning debt questions day or night.
The app will also display content in your feed custom to your debt circumstances. It will send you pop ups and recommendations based on what you’re dealing with. And, it will email or text you the best debt tips once a week to keep it fresh.
[Related: How Do I Pay Off My Debt?]
The downside of Paidback, is that it’s only available on iOS. Hopefully the Android version will launch soon.
What is the best debt payoff method?
There are lots of popular debt payoff methods that people successfully use to pay off debt. Before we launch into what is the best debt payoff method, a quick overview of some of the most popular methods is necessary.
The Debt Avalanche Method.
Under the Debt Avalanche Method, you pay off your highest interest debt first. Once you have eliminated the balance on your highest interest debt, you’ll use the money you were paying to that debt to pay off your next highest interest debt, and so on, until all of your debt is eliminated. Under this method, you’ll save the most money on the interest you will pay towards debt.
The Debt Snowball Method.
Under the Debt Snowball Method, you’ll pay off your smallest balance debt first. Once that’s eliminated, you’ll move on and repay the next smallest balance, and so on until all of your debt is eliminated.
The Worst Debt Method.
Under the Worst Debt Method, you’ll pay off the debt that bothers you most first. Then you’ll move on to your next most bothersome debt, and so on until all of your debt is eliminated.
The Only Bad Debt Method.
Not all debt is created equal. Some debt is worth getting rid of quickly, and sometimes, when your debt’s interest rate is low, it makes more sense to do other things with your money, like invest. Under the Bad Debt Method, you’ll aggressively pay off your high interest debt, and then move on to other financial goals while continuing to make your minimum debt payments on your remaining debt.
With that said, he best debt payoff method is the one that is right for you and your financial goals. I personally tend to favor the Debt Avalanche Method because it saves me the most money. But that doesn’t mean that the Debt Avalanche Method is best for everyone. And that’s exactly why with the Paidback app, you’ll get a custom debt payoff plan based on which of these methods is best for you and your financial goals.
If you’re trying to pay off debt, the Paidback app is the best app that helps you pay off debt so you can kick your debt to the curb once and for all.
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