Using a Spending Tracker App to Help You Get Out of Debt

Monitoring your outgoings

Debt can be overwhelming, especially if you’re behind with several different payments at once. It can be really hard to know how to schedule repayments and it can be easy to get disheartened, feel alone and resign yourself to constantly paying out.

But small changes to your daily habits or monthly bills can also combine to bring great savings over time. Money Dashboard gives you visibility over exactly where your money goes and will show you how to allocate an appropriate amount of money towards paying off your debts.

Setting realistic goals

Let's face it, everyone wants to build up a mountain of savings for that dream holiday or special Christmas but it's important to focus on becoming financially free from the restrictive terms of your lenders first.

That means tracking any bank accounts you have, taking a note of savings, income, spending patterns, and repayments of debts. Take a look into the future with Money Dashboard's Planner feature, to serve as your daily motivation and see exactly when you're on course to hit the green.

Create a budget and stick to it

Setting a budget is a great way to start getting a handle on your debt. Once you know where your money is going, and how much you want to spend and save it's much easier to get in control.

Money Dashboard makes budget planning a breeze by letting you define the areas of focus for you, like household bills or going out, then automatically tracks each area for you over the course of the month.

Not only that, but you can make adjustments with a tweak here and a slip up there. By staying close to the core concept of your budget, you’re guaranteed to gain financial ground rather than lose it.