Debtless
Getting started
Debt-to-income ratio: how to calculate yours
The exact formula for debt to income ratio, which payments to include, why lenders check it, and a full worked example with real math.
Money decisions, made clearer.
The Debtless Journal
Debtless is a 100% free debt payoff app for iPhone. Practical ways to get out of debt, one decision at a time. Clear examples, useful routines and a free app to put your plan into practice. The Debtless Journal is a free debt blog of practical articles on payoff methods, credit card interest, loans, collections, budgeting and privacy, written for anyone deciding how to pay down what they owe. It turns reading like this into a plan, drawing on 442 articles in this library.
The Debtless Journal articles
442 articles
Payoff methods
When a custom payoff order beats a formula
A custom payoff order is a repayment sequence you choose by hand instead of following avalanche or snowball automatically.
Free debt apps
Debt payoff app vs. budgeting app: which do you need?
See what a budgeting app tracks versus what a debt payoff app calculates, and which one actually answers your question.
Budget & cash flow
A bare-bones budget for a short payoff sprint
Build a temporary, stripped-down budget to attack debt for a set number of months, with a clear rule for when the sprint ends.
Credit card debt
How is a credit card minimum payment calculated?
A card minimum payment is the smallest amount you must pay each month to keep an account in good standing.
Payments & progress
Tell your servicer where an extra payment should go
How to direct an extra payment to a specific loan when your account is really a group of several loans, like federal student loans.
Loans & bills
Upside down on a car loan: options and the math
What being upside down on a car loan means, how to work out the negative equity, and realistic options instead of rolling it into a new loan.
Life & debt
Laid off with debt: a first-week checklist
What to do in the first week after a layoff when you already carry debt, from filing for unemployment to calling creditors early.
Privacy & habits
Fake debt collectors: how to verify before paying
How to tell a real debt collector from a scam: what information a legitimate collector must give you, common pressure tactics, and payment red flags.
Getting started
Good debt vs. bad debt: a more useful way to sort it
Skip the moral labels. Sort your debt by cost, risk and whether it is backed by collateral, and the payoff order becomes obvious.
Payoff methods
The debt snowflake method: small irregular payments
The debt snowflake method is the practice of sending small, unplanned amounts straight to a debt, like a rebate or a skipped takeout.
Free debt apps
What a debt snowball app should calculate for you
Learn the five things a real debt snowball tool needs to get right: order, rollover, dates, interest, and a comparison.
Budget & cash flow
Using side income for debt without burning out
Put side income toward debt sustainably by counting only what's left after tax and costs, and setting a real time limit upfront.
Credit card debt
Credit utilization: what paying down cards changes
Credit utilization is your balance divided by your credit limit, looked at per card and across all cards combined.
Payments & progress
Payment cutoff times: when a payment counts as on time
How a lender's daily payment cutoff time works, why weekends can shift a due date, and what a mailed payment adds to the timeline.
Loans & bills
Refinancing an auto loan: when it helps a payoff plan
When refinancing an auto loan actually helps a payoff plan, the difference between a lower rate and a longer term, and fees to check first.
Life & debt
Paying debt on a fixed income
How to make progress on debt when income is fixed, including which benefits are generally protected and why small payments matter.
Privacy & habits
What data money apps collect, and how to find out
How to find out exactly what a money app collects about you: what to look for in its privacy label and policy, and what linking a bank account adds.
Getting started
Secured vs. unsecured debt: why the difference matters
What collateral actually changes about a debt: the consequence of missing a payment, typical rates, and how it should factor into your plan.
Payoff methods
Debt consolidation vs. a payoff plan: what changes?
A payoff plan is an order for tackling debts you already have, while consolidation combines several of those debts into one new loan.
Give your plan a place to live.
Track balances and compare payoff methods in Debtless. Free, with no account or bank connection.
