Debt Payoff Planner

Overview

The Payoff tab on the Net Worth screen turns the debts you track into a month-by-month payoff plan. You pick an order for your debts, enter how much you can put toward them each month, and the planner shows a projected debt-free date, the total interest you'd pay, and when each debt closes.

The planner is available on Pro and Premium. On Free and Starter, the tab shows a locked preview of Debt Payoff Planning with an upgrade button.

This is information, not financial advice. Every result is a projection that assumes your balances, rates and payments stay as entered, and the planner says so under each chart.

How to build a payoff plan

The three strategies

The order is set once, from today's balances and rates. If two debts tie, the planner keeps a fixed order between them so the same inputs always give the same plan.

Each month, every open debt gets its minimum payment. Whatever is left over goes to the first open debt in your order. When that debt is paid off mid-month, the rest of that month's money moves straight to the next debt, and its old minimum joins the pool from then on.

Total monthly budget vs. extra above minimums

• Total monthly budget: the total amount applied across all debts each month. It has to cover every minimum payment. If it doesn't, the planner tells you what the minimums add up to and that the plan needs at least that amount.
• Extra above minimums: paid on top of the minimum payments each month. As debts close, their freed minimums are added to your extra.

Reading your results

After you tap Calculate, you'll see:

• Summary card: "Debt-free" followed by the projected month, your Total interest, and a line showing how much less interest you'd pay than with minimum payments alone (when there's a saving).
• Balance over time: a chart of each debt's balance as the plan runs.
• Payoff order: each debt in order, with the month it's paid off.
• If you pay only minimums: a table of the balance remaining and interest paid at 1, 3, 5 and 10 years, plus a Full payoff date and Total paid if you never pay more than the minimum.

Small lines under the summary list the assumptions used, such as Assumes monthly compounding.

Which debts are included

The planner reads every debt on your Debts tab, including credit card and loan accounts you've connected. To be included, a debt needs a balance, an APR and a way to work out its payment.

Debts that can't be modeled appear under Not included with a reason:

• No APR on file: add an APR and payment details. Charge cards often have no APR because they're paid in full each month.
• Payment amount unavailable: add a monthly payment to the debt.
• Zero balance: there's nothing left to pay.
• Different currency: the plan works in one currency, set by the first eligible debt. Debts in other currencies are left out.

For credit cards without a fixed minimum, the planner estimates one as interest plus a small share of the balance, with a floor. The exact rule shows in the assumption lines. A 0% APR is valid and those debts are included.

Debt cards on the dashboard

Two dashboard cards use the same debts. Both are Pro and up.

• Debt Payoff: named Debt Payoff Progress in dashboard edit mode. Shows your total debt, how many debts you have, and how much of your principal you've paid off when that can be worked out. Tap View payoff plan to jump to the Payoff tab.
• Cost of Debt: shows Interest paid this year and Est. interest this month. Interest data only exists for synced accounts, so the card always says how many of your debts each figure covers.

You can hide, show and move both cards in dashboard edit mode.

Tips

Frequently Asked Questions

Why does the planner say the balance would not decrease?

At the amount you entered, the interest on at least one debt is larger than its payment, so the balance grows instead of shrinking. Raise the monthly amount or check the APR and payment on that debt.

Why does it say payoff extends beyond 50 years?

The planner stops projecting after 50 years. If your amount can't clear the debts within that window, you'll see that message instead of a date. A larger monthly amount brings the date back into range.

Does the planner make payments for me?

No. It's a planning tool only. It never moves money or changes your accounts.

Are my plan settings saved?

Your strategy, order and amount stay in place while you use the app, so you can leave the tab and come back. The plan itself is recalculated from your current debts each time.

Why is a connected credit card showing an APR source line?

If you didn't enter an APR yourself, the planner uses the rate your card provider reports, and the assumption line names which rate it used.

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