Pay Down Schedule
Included in the BudgetTracker site is the ability to view a schedule of how long it will take to pay off a loan, credit card, or any other debt you might have that has a limit value. There are two ways to view your pay-down schedule:
- The first is simply to create a loan or credit card account from the My Accounts page. While creating the account, you’ll notice you have the ability to add this account to your recurring bills schedule for you automaticallly. If you’ve already created the accounts, you’ll need to create a new transfer recurrence on the My BIlls page and ensure that it is setup as a transfer from your Checking account to your Loan or Credit Card.
- The second way is when you are creating a new bill, click “more options…” and notice the “Total Due (optional)” field. If you enter a total amount of the debt that is due, we can calculate your pay-down schedule from this amount instead of the remaining balance on your account.
Once these have been entered, on the monthly forecast on the My Bills page, you’ll see small calculator icons next to the bill amount. Calculator Icons will only show up next items that meet the above conditions. Once clicked, you will be taken to the Pay-Down page where you can see the amount and date of each transaction until the balance is paid. Additionally, if you’ve chosen the first option (Accounts) and entered in an interest amount, we’ll calculate the interest into the schedule as well so you can see a more realistic time frame of when your debt will be paid off.