Now On Your iPhone, ReadyForZero Is Ready To Save You From Debt

YC alum ReadyForZero, an online financial service that’s trying to get people out of debt faster, is today expanding to mobile with the launch of its first mobile app. For now, the experience is designed mainly to give you at-a-glance insight into your current debt situation. However, the mobile app also uses iOS push notifications to alert you to large purchases and payments which could impact your financial goals.

Says ReadyForZero CEO and co-founder Rod Ebrahimi, this feature is designed to “keep you honest,” similar to the free ReadyForZero credit card stickers, which shame you into putting your card back into your wallet.

As with the stickers, ReadyForZero’s push notifications are like nagging reminders when you’re not staying on course. But while the stickers are like a simpler solution than having to put your credit card in ice (yep, this is a thing), the app’s push notifications aren’t just about keeping you from being naughty – they also alert you when you complete financial goals, make payments, or the interest rate changes.

For those unfamiliar with the service, ReadyForZero automatically imports data from your bank accounts, credit card accounts and loans, then uses this information to actively make recommendations as to when you’re able to make extra payments in order to save on interest. It can also alert you to the repercussions that recent big-ticket purchases will have on your plans to pay down your debt within a given timeframe, and can suggest ways you can get back on track.

The mobile app, like the desktop-size website, lets you track your progress, payments and view all your accounts (loans, credit cards, etc.).

Ebrahimi says that he knew now was the right time to go mobile because of the huge problem with student loan debt in particular. “Earlier this year, total outstanding student loan debt surpassed $1 trillion, overtaking total outstanding credit card debt,” he says. And on July 1st, the federal student loan rate is scheduled to double from 3.4% to 6.8%, he adds, depending on the results of this vote. In other words, it’s a good time to expand the ReadyForZero service to other platforms – especially one favored by students (their phones).

The iOS app is going live now in iTunes. And yes, Android version is in the works.