Debt Navigation on Money Management
Debt Chart
On the main Debts window, you’ll see a colorful chart and a timeline with a list of your debt accounts below. The dotted line on the chart represents the status quo, i.e., the time it will take to get out of debt by making minimum payments without the snowball method.The colorful chart represents the expedited payoff for each debt which you can achieve by using the snowball method and by paying more than the minimum. To the right, you’ll see an estimated payoff date, as well as an estimate of the amount you’ll save.
To see your estimated total debt at a future date:
- Hover the mouse over a date on the timeline.
Debt List
On the bottom of the main screen you’ll see a list of all your debts, ordered by their priority. They are numbered and color-coded to match the chart above. To the right, you’ll see the balance, interest rate, estimated final payment date, and minimum payment amount for each debt.
Debt Details
To view more details about a particular debt:
- Click on a debt in the list.
Under the tab labeled “SCHEDULE,” you’ll see a list of future payment dates. For each date, there is an associated payment amount which is then broken down by principal and interest. The projected balance is on the right. If you don’t see these details, you may need to manually enter information like minimum payments and due dates.As you scroll through the future payment dates, you may see the payment amounts start to increase. This is a reflection of the snowball method at work.To view or update your minimum payment or interest rate:
- Select a debt from the debt list.
- Click the tab labeled “DETAILS.”
- Click the figure for monthly payment or interest rate and enter a new number.
Extra Payment Toward Debt
If you want to see what will happen when you put more money toward your debt:
- Click on “Total Monthly Paydown.”
- Enter in an additional amount in the “Extra Payment Toward Debt” box. The graph will readjust and show you how much you could save by putting extra money toward your debt.