Pay Down Debt Faster with SavvyMoney

by Ryan Yates

Debt levels make up 30% of your credit scoreSo you’ve decided to take control of your finances and pay off your debt…great! But where to start? One solution you might want to consider in your journey to debt freedom is

SavvyMoney (formerly Debt Goal)is a web based do-it-yourself debt repayment plan that offers hefty tools, tips, and strategies that aim to optimize and shorten your debt repayment schedule. In fact, the only downside of that I’ve found is that the cost ($14.95/month) is a little hard to find on their website. I’d prefer the cost to be right up front without any searching.

Other than having to drill down to find the monthly charge, has a straightforward user interface and offers a simple-to-follow debt repayment structure.


Organization – collects all of your financial information in one place so you can see how much debt you have in total. You’re guided through this process by adding all of your financial accounts into the website’s software either electronically (with usernames and passwords) or manually (with account numbers).

DebtGoal Accounts Page SavvyMoney Accounts Page

The benefit of organization is that it helps you understand your debt situation. Knowing where you stand is the first step in the process of debt elimination. will list all of your account balances, interest rates, and due dates in one place.

Optimize – By entering your financial information, SavvyMoney’s software learns about your current financial situation; how much you make and how much you owe. Knowing this information, SavvyMoney’s algorithm can optimize your monthly debt account payments and savings.

The benefit to payment optimization is that you end up paying more principle and less interest. As a result, the total amount you owe decreases at a faster rate than making minimum (or barely above minimum) monthly payments.

Smart Pay Plan – initially gives you a simple payment plan to follow by setting a monthly commitment that you will pay toward your debt each month. (this is the initial step of your Smart Pay Plan™)

DebtGoal Smart Pay Plan SavvyMoney Smart Pay Plan

You’ll choose a fixed amount that you can afford to pay toward debt each month, and then choose a payment strategy that best suits your needs. The Smart Pay Plan benefit is that you’ll save money by decreasing the principle without dramatically increasing your current monthly payments.

Finalize – To complete your Smart Pay Plan, you’ll choose a financial strategy that will lead you to the promised land of debt freedom. Your financial strategy decision will be based on your current financial situation, your desired lifestyle, and your future plans. You will always have the choice as to which debts you want to pay off first; and this can be changed and updated as you go.

“Creating a Smart Pay Plan is an intuitive step-by-step process that may take as little as 15 minutes.” –

A few other tools available from are monthly summaries and payment reminders, your personal Debt Free Date™, and accelerator tools to help make an even bigger impact in your debt repayment. You can also track your debt reduction progress with interactive charts and graphs.

SavvyMoney’s debt repayment strategies show you the best way to spread around your payments every month in an effort to help you save thousands of dollars in interest and get out of debt years sooner.

What can offer you?

Previous post:

Next post: