Financial tools to help you meet your commitments

Managing debt can be challenging, but utilising the right financial tools can help you stay on track and meet your debt repayment commitments. Here are some financial management tools that can assist you in managing your finances and ensuring timely debt repayment, specifically for residents in the UAE.

Budgeting apps

Budgeting apps can help you track your income and expenses, helping you create a realistic budget and allocate funds towards debt repayment.

• Wally: A personal finance app designed to help users manage their money efficiently. It offers features tailored to the needs of residents in the UAE, including support for multiple currencies and integration with local banks. Learn more about Wally
• YNAB (You Need a Budget): Focuses on helping you allocate every dirham to a specific purpose, making it easier to prioritise debt repayment. Learn more about YNAB

Debt payoff calculators

Debt payoff calculators can help you understand how long it will take to pay off your debt based on your current payments and interest rates.

• Bankrate debt payoff calculator: This tool helps you calculate how long it will take to pay off your debt and provides a detailed payment schedule. Try Bankrate’s debt payoff calculator
• Undebt.it: Allows you to create a customised debt repayment plan, track your progress, and explore different payoff strategies. Visit undebt.it

Financial planning software

Financial planning software can provide a comprehensive view of your financial situation, helping you plan for debt repayment and other financial goals.

• Quicken: Offers tools for budgeting, tracking expenses, and managing investments, providing a complete picture of your financial health. Learn more about Quicken
• Personal Capital: Combines budgeting and investment tracking, helping you manage your money and plan for the future. Learn more about Personal Capital

Emergency fund savings accounts

An emergency fund can be a financial cushion, preventing you from accumulating more debt in case of unexpected expenses.

• High-yield savings accounts: Accounts such as those offered by ADIB Smart Banking Account or Mashreq Neo Savings Account provide higher interest rates, helping you grow your emergency fund faster.
• Online savings accounts: Many online banks in the UAE offer competitive interest rates and easy access to your funds, making them a good option for emergency savings.

How Eltezam can help

Eltezam, a debt collection agency in the UAE, offers various options to help you manage your debt. By exploring payment plans and receiving personalised support, you can take control of your financial situation and make realistic debt repayment commitments.

Our team is committed to helping you regain control of your financial situation in a stress-free manner. By utilising these financial management tools, you can easily manage your finances, prioritise debt repayment, and work towards achieving financial stability. Eltezam is here to support you every step of the way.