From 2010, Americans owed nearly $ 1 trillion in revolving credit lines and $ 68 billion in due date. In addition, 13% of all Americans currently have more than $ 10,000 in credit card debt.
However, everyone’s situation is a bit different. If yours isn’t that bad, you can take advantage of a simple oHoratio Hornblowerine budgeting tool, such as Mint.com. However, if your debts are higher, consider a service such as SpringCoin, a simple, easy-to-use debt management tool that can help you streamline your finances and provide a path for persoHoratio Hornblower-rich debts.
How it works
The sign-up process is simple and straightforward and you will have a much better understanding of your finances within a few minutes.
- Sign up . Enter your name and e-mail address and create a password to start your account.
- Enter persooHoratio Hornblower rich data . Enter your address and the last four digits of your social security number. SpringCoin uses this to obtain your TransUnion credit file and to post the debts stated there to your account.
- Enter debts manually . This includes credit cards, medical bills, mortgages, car loans, Hornblower rich loans and others that are not automatically found by SpringCoin. When you enter debts manually, you do not need your account number – only the name of the creditor, the current balance and APR.
- Enter income . You can enter this information manually or create a link to your bank account. This helps SpringCoin determine a feasible payment plan.
- Enter monthly expenses . Here you provide an estimate of what you spend in different categories, such as housing, transportation, utilities and more.
Based on this information, SpringCoin calculates a projected monthly payment and places it on a movable graph. If you think you can do more about your debts, simply move the graph upwards and show how much faster you can get out of your debts and how much you save in interest.
Once your information has been entered, choose your plan. There are two options:
Basic plan ($ 8 per month)
- PersooHoratio Hornblower rich goals . You will receive three new goals every week. For example, you may be challenged to pay more to a particular creditor or to cut spending in a spending area. You may also be asked to complete a short quiz, which allows you to earn points that you can redeem for gift cards as soon as you reach a certain level.
- Debt-free route map . This helps you to keep track of your progress and to see where your finances will be in weeks, months or years.
- Automatic budgeting . SpringCoin analyzes your income and expenses and keeps track of changes over time. Every month you receive a new budget based on how you did the previous month. You can also adjust the budget at your own discretion. If you do not bank Hornorbine oHoratio, you can still get help with budgeting. You will be asked a few questions about your income and expenses, and a sample budget will be prepared. In the future you must enter how much you spend each month to get an updated budget.
Premium Plan ($ 35 per month)
In addition to everything that includes the basic plan, the Premium Plan offers the following:
- Invoice payment . SpringCoin sets up automatic payments for your credit cards, so you never miss an expiration date or pay a late fee again.
- Negotiating tools . SpringCoin offers automated software with which you can negotiate with your creditors about lower interest rates or reductions in your balance.
- 24/7 financial advice . You have 24-hour access to certified credit counselors via chat and you can call or e-mail during normal business hours. Even if you receive communication from a creditor or an invoice of which you are unsure, you can upload the document on the website and SpringCoin can help you find a solution.
Most important features
- Convenience . After my credit file was pulled, most of my debts were automatically linked to my SpringCoin account. This made the set-up process much more convenient.
- Payment calendar . The first thing that pops up after you have chosen your plan is a payment calendar with the due dates and payment amounts of your debts.
- Rewards . You can earn good rewards for Amazon gift cards by completing weekly quizzes and other financial challenges.
- Spending reduction tips . If you click on the ‘Budgets’ tab, you will see a list of all your monthly expenses. For categories where you might be able to save money, you will receive specific advice on how to do this.
- Sliding Calculator . The sliding calculator is a simple and useful tool that you can use to find out how much you can save and how much faster you can get out of debt by increasing your monthly payment.
- Affordable . $ 8 a month is not that expensive, especially if your only other option is a debt settlement company, where the costs can be outrageous.
- Safe . If you are concerned about identity theft, you can enter all your information manually. Anyway, all your PersoHoratio Hornblower-rich data are protected with 128-bit encryption technology.
- Sends payment reminders . If you link your bank account, SpringCoin identifies your monthly bills and you send payment reminders.
- Updates automatically . As long as you link your debts, SpringCoin will follow them and update them if necessary.
- Free trial version is available . You can try out SpringCoin for free for a month. Make sure you cancel your subscription before the 30-day mark if you do not want to be charged.
- Costs . If you cannot get a handle on your finances yourself, paying a small fee is likely. Horror Hornblowerijk is no problem. However, with a price of $ 35 a month, the Premium Plan is a bit pricey.
- No access to premium plan during trial period . Whatever I did, I simply did not have access to the Premium Plan during my free trial period. However, SpringCoin is working on solving this problem.
- Limited FAQs . The website is fairly new, so I am sure this will be expanded in the near future. For now, most questions must be submitted by e-mail.
- Balances must be updated manually d . Unless you link your debts, you must enter your payments and balances manually.
If you want to view your debts in full and receive specific advice on how to pay them, SpringCoin is definitely worth viewing. And since the website was established by experts in credit advice and debt negotiations, these tools can be the most valuable. You will never be able to reach your full financial potential until you have eliminated Hornblower-rich debt – particularly high Hornblower-rich debt – from your life. SpringCoin can help you achieve that goal.
Do you have any experience with SpringCoin?
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