Frequently Asked Questions
Payment Strategies
Q: What payoff strategies does the app support?
A: The app currently supports two proven debt payoff strategies for all users:
- The Snowball Method focuses on paying off your smallest debts first, regardless of interest rate. This approach helps build momentum and motivation as you quickly eliminate individual debts.
- The Avalanche Method prioritizes paying off debts with the highest interest rates first. This strategy typically saves you the most money in interest charges over time.
For subscribers, we also offer Cashflow Optimization, which creates a personalized repayment plan based on your unique income patterns and expenses.
We’re continuously working to expand our debt payoff features to better serve our users’ needs.
Q: How does the app determine which debt payoff method is best for my situation?
A: The app helps you explore different debt payoff strategies but lets you make the final decision about what works best for your situation. You can see how different strategies would affect your payoff timeline and total interest paid, helping you make an informed choice based on your financial goals and preferences. While we give you the information and calculations you need, you’re in control of choosing the strategy that feels right for you.
Q: Can I switch between different payment strategies after I’ve started my plan?
A: Yes, you can switch between different payment strategies any time you want. Feel free to try different approaches and change your monthly contribution amount whenever it makes sense for you. You can review and adjust your strategy as often as you’d like - there’s no limit on how many times you can make changes.
Security & Privacy
Q: Is my financial data secure?
A: Your financial data stays private and secure. The app only sees what you choose to share. We protect your information in two ways: all data is stored in an encrypted database, and you can set up a PIN code to make sure only you can open the app.
Q: Does the app store my banking credentials?
A: We do not ask for or store any banking credentials (like usernames, passwords, or PINs). The app only works with the information that you choose to share with us. Your banking login details always stay with you and are never shared with or stored by our app.
Q: Is my data backed up? Can I access it across multiple devices?
A: This is currently not supported. We’re working on adding these features in an upcoming version.
App Features
Q: Is the app free? Are there premium features?
A: Yes the app is free to download and use, helping you track your progress as you pay off debt using either the snowball or avalanche strategy. Subscribers have access to premium features including advanced payoff methods and extra calculators.
Q: Can I track multiple debts simultaneously?
A: Yes, you can track multiple debts simultaneously. You can enter all of your debt types to create a complete picture of what you owe. This makes it easier to develop a payment strategy that takes into account the total amount, interest rates, and due dates for each debt. By tracking everything in one place, you can better prioritize which debts to pay first and make sure no payments are missed.
Technical Questions
Q: Which devices/platforms does the app support?
A: This app runs on virtually all modern Android and iOS devices.
- Android devices running Android 5.0 (Lollipop) or higher
- iOS devices running iOS 12.0 or higher
Q: How much storage space does the app require?
A: The app requires very little storage space on your device. The initial download is small, and even after years of regular use, it will only take up about 50MB of space - that’s roughly the same as 10 songs or a few photos. This means the app will work well even on devices that don’t have much free storage space.
Q: Does the app work offline?
A: Yes, the app works offline. You can use all the essential features without an internet connection, including managing your debts, tracking payments, monitoring your progress, and calculating payment plans using either snowball or avalanche methods. Since all calculations happen directly on your device, you don’t need to be connected to use any of these core functions.