it's not easy to get out of debt it can be difficult to keep up with monthly expenses and save for a rainy day let alone pay the minimum monthly payments on your credit card fortunately there's a site for that allow me to introduce you to undead undead it debuted in 2012 as a free mobile friendly debt snowball calculator over 121 000 people are currently using undead it to pay off 8.8 billion dollars in debt according to undead its creator jeff donaldson the site is the outcome of my desire to use a single tool to perform the work rather than many mobile apps and spreadsheets in today's video we're going to talk about undead it we're going to discuss what undeada is what the site offers and why it's one of the best free debt management software is available check my link in the description if you're interested in trying undead it for yourself if you like this kind of content subscribe to our channel click the like button and watch this video to the end what is undead undeada is a free debt reduction tool that assists you in keeping track of your progress and goals during your debt reduction plan the website's actual url is on debt.it which is where the moniker comes from the program helps you get out of debt quickly by building the appropriate plan tailored for you by adopting a suitable budget and holding yourself accountable it's a flexible program with several debt reduction options that you customize to your unique needs what i like best about undead it is its capability to build the ideal plan for you based on your personality type many of you may be familiar with dave ramsey's debt snowball method of debt reduction the debt snowball approach paying off your bills one by one lowest sums first is the most popular debt payback strategy that consumers adopt and that app can integrate this method however if you have a more quantitative and systematic mind like mine you may also use this program to choose the debt avalanche paying off your debts one by one highest interest rate first strategy which is the favor of many more mathematical types of people undead it's repayment option one of the most compelling reasons to select undead it is seven distinct repayment options these strategies are offered in a free version which works well for the majority of people on the path to debt independence as well as the premium version a few debt reduction products include seven different payment options many include popular debt reduction measures such as the debt snowball or debt avalanche but many do not provide the advanced approaches that we're going to talk about each option requires you to make the minimum monthly payment while focusing on your additional debt budget on a single obligation here's a quick overview of the different undead it payoff method you can select one of the following methods number one the debt snowball the debt snowball is possibly the most well-known debt repayment technique pays off your lowest balance first but in short it's a terrific strategy for reviving that sense of momentum as you close additional debts it's also the most widely used approach on undead number two the debt avalanche the debt avalanche starts with the highest interest rate and works its way down this technique has the potential to save you the most money and is the second most popular honor number three hybrid method debt to interest ratio the debt hybrid strategy combines the greatest elements of the debt snowball and that avalanche by paying off smaller balances you'll be able to combat high interest rates while keeping momentum number four the most expensive monthly payment paying off the biggest monthly payment may be the most effective approach to have more money each month number five the highest credit utilization rate do you want to improve your credit paying off your debts with the greatest credit utilization rate can help you can measure your progress by tracking your credit score using your free credit score app number six the highest monthly interest payment this technique like your debt avalanche pays off your debt with the greatest interest cost each month instead of the highest interest rate apr the tool considers the real dollar amount of input number seven the custom plan you can change the order of the payoffs by selecting lowest number first or highest number once you've established a debt payment pattern creating a bespoke plan that is a better fit for your financial position can be beneficial at first the huge array of options may appear to be overwhelming undead it on the other hand includes a comparison tool that shows you your overall debt cost and debt free date this simplifies things and can be eye-opening how undead it works endemic's tools are simple to use there's an easy mode view that makes it easy to set up and operate the easy mode display functions similarly to a debt payoff wizard allowing you to see and interact with everything in one once you set up your account and entered your debt information it will generate a plan for you based on the approach you select this monthly payback plan specifies how much money you should transfer to each debt account each month with a click of the download snowball table button you can export your preferred plan to an excel file alternatively you may utilize the dashboard to follow your progress and make changes in any case it works from any place you have an internet access and a browser is there an app or a link to your accounts on undead it undead it does not have a mobile app but the website is mobile friendly and simple to use on a phone or desktop in other words it's a web app that is you don't need anything extra to use it also has no connection to any of your bank this implies you won't be able to connect your account like mint you must instead manually enter your payments and transactions however this can be a beneficial thing if you're concerned about your bank accounts becoming vulnerable to malicious users hacking third-party websites you won't have to worry about that debt snowflakes is a useful feature in the debt payment track undead it's debt snowflake undead it allows you to vary the amount of your monthly debt payment to change up your payback plan you may receive a one-time cash windfall such as a tax return from time to time you can record things like that as an extra monthly payment using the debt snowflake tool when you make additional one-time payments you can add debt snowflakes you can also build negative snowflakes to notify the tool that you need to skip a monthly debt payment for example perhaps you need the money for a financial emergency instead and then it also contains graphs and charts that allows you to view your credit usage ratio interest rate and interest charges by specific account they make it simple to see where you stand based on information you provided undead it's price it doesn't matter how amazing a program is if it costs an arm and a leg to pay for it so many people promise debt relief advice programs only to slap you with a huge monthly bill that really puts you further in the debt there is a free version of undead it that may be all you require you can surely get out of debt with the free version this isn't one of those bait and switch programs where you get halfway through and then you have to pay them 100 a month there's no fine print here guys the site is available in two pricing models free and premium free edition is completely free while the premium version costs only 12 per year the free version of undead it allows users to add unlimited debt accounts use the debt snowball or debt avalanche export your plan to excel and add promotional interest compare debt payoff plans and create a customized payoff plan if you primarily want to utilize or evaluate one of the seven repayment options the free plan is ideal pros of the free version include seven debt repayment strategies are available for free you can personalize your debt repayment plan and track unlimited number of debt accounts website that is mobile friendly customer service which includes youtube videos faqs and a startup guide cons of undead it are each monthly payment must be entered manually there are some internet advertisements on the free core plan payment reminders are only available with the premium undead it plus plan unless you use the premium plan and sync with ynab you need a budget there are no monthly budget tools undent.it unfortunately does not offer a mobile app the web page on the other hand has been optimized for web browser the premium subscription of undead it includes everything offered in the free tier and various integrations that the free tier does not offer the following features are only available in the premium version using drag and drop custom debt make 52 week saving strategy for build control debt destroyer payment reminders through text message email summary for the month account tracking and forecast table of individual amortization auto bill payment payment planner on a calendar account consolidation in advance removes website advertisement automatic monthly adjustments integration of a mobile calendar debt repayment tails integration with widen debt.it premium is extremely reasonable at twelve dollars per year or one dollar each month i would absolutely recommend paying for the service just to be rid of the ads but if you're on the fence the premium version has a 30-day trial period before you're committed to paying the annual charge who should use undead it indebt.it is ideal for folks who wish to utilize the debt payment man but need assistance in creating a plan other debt payment plans may be worthwhile to pursue if they are a better fit for your aims for example you could want to see how quickly you can pay off your greatest monthly payment in order to significantly lower your monthly undead it is free but offers many resources making it a cost effective and efficient use of your time if you like what you've seen and heard use my link in the description if you're interested in trying undead it for yourself if you enjoyed this video then check out these videos on your screen that i've selected just for you thanks for watching and i'll see you in the next