Quick Snowball LE

Quick Snowball LE

10,000 - 50,000 downloads

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Track your Debt Snowball - this app allows you to enter and track your debts - and calculates balances and payoff dates based on the Debt Snowball method (pay the minimums on everything, and attack smallest debt first), as recommended by financial counselors such as Dave Ramsey.

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.

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Recently changed in this version

1.1.0 Hopefully fixed remaining force close issues by updating 'default' xml file.


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Comments and ratings for Quick Snowball LE
  • (50 stars)

    by Ashley Burt on 27/04/2014

    Cant input decimals? Deleted in 10 seconds. Very bad quality graphics

  • (50 stars)

    by R Walkins on 25/01/2014

    Doesn't help you DO anything. It is as helpful as writing a list of debts on s napkin.

  • (50 stars)

    by Holly Hopkins on 10/01/2014

    Don't like the new update but love the app been using it over a year possibly 2

  • (50 stars)

    by Joe David on 28/12/2013

    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!!

  • (50 stars)

    by gshsdemon20042006 on 20/12/2013

    Still forces closed, can't access app at all, uninstalling

  • (50 stars)

    by Shakera Johnson on 07/11/2013

    I think this am is awesome.....just wish it automatically appliex ghe pymt on the due date not at month end....lol

  • (50 stars)

    by Robert Heflin IV on 09/07/2013

    I'm not sure what this app does. I know what it should do but it gives useless information.