Suggestions

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Debt Paydown Schedule

The ability to pick a cash flow priority for all debts at once with a toggle for the major methods (snowball and avalanche). Otherwise it appears you would need to set manual cash flow priorities for each debt each with varying amounts and start dates.

3 votes

Tagged as Suggestion

Suggested 08 December 2023 by user Kyle Wimmer

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  • 08 December 2023 Kyle Wimmer suggested this task

  • 08 December 2023 Kyle Nolan approved this task

  • avatar
    Justin Burley

    Would love to have this feature! What Kyle suggested would be great for users that like the idea of snowballing/avalanching their debt. In my case, I take a little bit further…

    Right now I use a spreadsheet to help calculate out my debt to income ratio (for me, that’s the mortgage, two cars, a home improvement loan, homeowners insurance, and property taxes). I break down what those values are month to month, and then find the differential between that and a cap of 35% of my total income. Whatever that differential is, that’s my debt snowball that I commit to paying down my debt faster. But I also have one extra rule: I don’t go over 5% of my income to the snowball; just in case of family budget issues and whatnot.

    I know that’s a lot of “extra”, and maybe I over complicate it, but it helps keep me on track with trying to pay down debt while also enjoying quality of live taking care of a family of five.

    22 March