A Hidden Gem for Managing Money and Paying Off Debt: PowerPay by Utah State University

When it comes to managing money, staying on top of debt, and planning for big purchases, having the right tools can make a huge difference. That’s why I’m excited to share one of my favorite (and often overlooked) free resources: PowerPay, a financial wellness website created by Utah State University.

Most people know PowerPay for its debt payoff calculator—and it’s a great one—but there’s so much more to explore. The site offers tools that can help you take control of your finances, whether you're trying to create a budget, save for a big goal, or make smarter decisions about credit and major purchases.

What You’ll Find on PowerPay

Here are just a few of the tools available on the site:

• Debt Payoff Calculator – Build a custom plan to pay off your debts faster—and even factor in saving for an emergency fund at the same time.

• Online Spending Plan – Create a realistic budget that you can download as an Excel file to track your progress.

• Housing Cost Calculator – This one really stands out. It doesn’t just include mortgage costs like principal, interest, taxes, and insurance (PITI); it also accounts for things like maintenance and utilities.

• Savings & Investment Calculators – From short-term savings goals to retirement planning, there are calculators to help you make a plan and stick to it.

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Why I Recommend It

I often suggest PowerPay to people I work with because it’s user-friendly, research-based, and totally free. The housing calculator in particular is one of the most thorough I’ve seen. It gives a realistic view of what homeownership will actually cost—not just what the bank says you can borrow.

I also love the flexibility of the debt payoff calculator, which lets you prioritize debt while still setting aside money for emergencies. That balance is key to building financial security.

One Thing to Know Before You Start

To use many of the tools, you’ll need to create a free account with your name and email. PowerPay explains that this allows users to save their progress over time. While this is helpful for tracking your goals, I know some people are cautious about sharing personal information online.

That’s why I’d love to see PowerPay eventually offer a "guest" or one-time-use option for those who want to try the calculators without signing up. Still, for those comfortable creating an account, the value you get from these tools is well worth it.

Final Thoughts

PowerPay is a powerful, free resource that can help you take charge of your finances, pay off debt, and plan for the future. Whether you're just starting your financial journey or looking for new ways to stay on track, I highly recommend checking it out.

Try it here: powerpay.org