Quick Snowball LE for Android
This IS a very basic app - written in response to the fact that when we started the Dave Ramsey plan in March 2010, there was no simple free app available that could do exactly the bit of functionality I needed.
Basic Instructions:
1. Add your debts, including minimum payments, APR, original (for payoff display) and current amounts.
2. The app will display your debts in a list from SMALLEST to LARGEST. This is the 'debt snowball' - yes it is not mathematically optimal, but for many people is better psychologically.
3. In 'settings', set the 'Extra' monthly amount you expect to be able to apply to debt.
4. Pay the MINIMUM only on ALL debts except the top one on the list. Any extra disposable income should be applied to the SMALLEST debt to get it paid off.
5. The app calculates your payoff dates based on your 'Extra' monthly payment, so you can easily change your 'Extra' payment to see how taking a 500/month part time job can accelerate your overall payoff time. If you leave "Extra" = 0, then you are essentially planning to make minimum payments ONLY.
6. The first time you open the app each month, it will re-calculate (based on APR, minimum payments, and applying the amount you have saved as 'Extra' towards the smallest debt) what your current balances for all debts should be. If you pay more than the minimum on some debts, or the 'Extra' amount is not correct, you can also manually adjust those balances - but if the data is all correct, the new balances should all auto-calculate properly at the beginning of each month.
Ok, it's not Dave Ramsey's debt snowball, but it is just as good as a reminder for you to stay in check with your debt. I think it's awesome!
Just was I was looking for, hope to see more work into it for better graphics and easier use. Thanks
I use this for my debt snowball but I also have a category for my little emergency fund, my big emergency fund and my house savings. I just enter them as 0.1% and then if I have money in any of those accounts I can track those with my debts and know when I'll have them funded. Love that I can do that with this app! :)
Just wonderful.. now if it only came with the cash to pay off my debt!! LoL.. this is a great program... its a must have!!
Ok, it's not Dave Ramsey's debt snowball, but it is just as good as a reminder for you to stay in check with your debt. I think it's awesome!
Doesn't help you DO anything. It is as helpful as writing a list of debts on s napkin.
Just was I was looking for, hope to see more work into it for better graphics and easier use. Thanks
Simple and easy to use.
Stupid app
I put all my debts in and it erased them all
Does not save my work. Next time I open nothing is there.
I like it probably look at it a couple times a day. I would like to see it with a place to put in what you paid this month and let it track the debt
Very basic. Moved to Debt Payoff Planner. Much better app
Only lists your debt. No interaction or tracking
No instructions how how it works. Doesn't allow you to enter the amount you pay per month if above min. pmt.
Great! This provided a simple visualization of our debt. Note: to add in extra payments, just edit loan's current balance.
Great for basic debts! Needs some upgrades to handle student loans. Hope to see that soon.
Love it! I now have my stupid displayed with payoff dates.
DR...I love his system.
It is good for tracking a little rudimentary in design, lacks a friendly U I, also visual aids, comparison tools, it does not export, orcreate report
It is LLLAAMMEE it wont let you do anny thing it is boring
Needs instructions
Great app to use after taking a Dave Ramsey class.
Seems to work fine on my droid x
Doesn't help you DO anything. It is as helpful as writing a list of debts on s napkin.
I can not enter cents for my debts and payments. The decimal seems to only work when entering the APR. Love the UI, how I am quickly able to tell where I stand, and the ability to calculate the extra payments.. Would be 4 stars except not being able to enter the decimal point really bothers me.
Help. I use the app faithfully and after the latest update it will not open. Worked great on my note 3 until then. Please fix so I don't lose my data :(
Just wonderful.. now if it only came with the cash to pay off my debt!! LoL.. this is a great program... its a must have!!
Quick and easy to use on my HTC inspire . 5 stars.
Still forces closed, can't access app at all, uninstalling
It doesn't tell you anything really. Basically bar graphs showing what you have already paid.
It keeps foreclosing! Motorola Xoom!
Latest update did not, evidently, fix the force-close issue. Neat little app...wish it still worked. :(
Mine is keeping its memory. Glad I'm down to just four sets including my home. But.... Is all it does is show me my current debts, and that's it? Need a small readme.
please fix...won't let me open it. I use the snowball faithfully. Please fix! I don't want to lose my data.
Its a good general tool, but it doesn't accept decimals so you have to update it manually every few months. Its great to get an attack plan; not worth keeping long term.
I think this am is awesome.....just wish it automatically appliex ghe pymt on the due date not at month end....lol
I am one that over complicates my budget, and snowball. This really help me keep thing simple and at my finger tips, great app!!
Either I can't tell or this app actually does nothing but create a bar showing what percentage you have paid off. Which you probably already know. Uninstalled.
by R####:
I can not enter cents for my debts and payments. The decimal seems to only work when entering the APR. Love the UI, how I am quickly able to tell where I stand, and the ability to calculate the extra payments.. Would be 4 stars except not being able to enter the decimal point really bothers me.