Debt Snowball [iPad]

** What's a Debt Snowball and why use one? **

If you've got some debt and are looking for an effective way to get rid of it a debt snowball method will most definitely help you achieve your goal in a fast and rewards way. The strategy is actually very simple...

1. You order your debts from smallest to largest and make sure to keep up with just the minimum monthly repayments on all but the smallest debt. For smallest debt, you throw as much money at it as you can until the debt is gone.

2. Next up, you start working on the second smallest debt. Use the original repayment (you no longer need to make as the debt is gone!) and add it to the repayment of the new smallest debt, thereby making an overpayment.

The idea is that you gain momentum as your debts disappear one by one, allowing you to add the previous minimum repayments to the debts you have left. Your repayment on the debt you're working on gets bigger and bigger, just as a snowball would.

** An interesting fact **

Having been popularized by Dave Ramsey of Total Money Makeover, Harvard researchers actually found the Debt Snowball Repayment Method to be the most effective debt-repayment strategy, giving users a sense of accomplishment and motivating them to keep going.

** Sound good so far? Here's what we've included in our app**

Main features:
- Clean, intuitive layout.
- Super easy to use and quick steps to add in your debts
- Jargon-free! This is a big deal :)
- Multi-currency options (Just British Pounds and US Dollar at the moment)
- Ad-free.
- Get started straight away with the ability to add 3 debts before you decide to upgrade. The upgrade is just 0.99p
- Once you've upgraded you can add as many debts as you'd like
- Real-time balance updates
- Debt Freedom calculator. Gauge when you'll finish paying off your debts (based on calculated estimates)
- Editable history view for each of your debts

** Why we decided to create this app **

We couldn’t find a simple, uncomplicated, jargon-free App to record our journey from being in debt to debt-free. We wanted a place to record where we’d come from (broke!) to where we’d got to (debt-free!). Inspired by Dave Ramsey and the snowball repayment method we went ahead and build this app. Hopefully, this helps you as it has for us giving you that motivational push to go full steam ahead in paying on your debts.

If you'd like to find out more about Debt Snowballs, how and why they work, pay a visit to either of these websites:

https://debtfreefamily.co.uk/
https://www.charlottemusha.co.uk/

** Future thoughts **

We're super keen to improve on what we've done so far and would love to get any suggestions, ideas you have. If you could take a moment to leave us a nice review on the app store that would really help us :)

** Before you go, here's an inspiring quote to get you pumped up...

“When you start the Debt Snowball and in the first few days pay off a couple of little debts, trust me, it lights your fire.”
- Dave Ramsey

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** Oh, one last thing **
A few people were not fully clear on what our app was from the first version and thought they could use it to compare methods. Just to be clear this app is NOT a debt repayment comparison app. We do not offer the ability to compare debt repayment methods. This app is ONLY for the snowball method.