Debts

Plan → Debts keeps track of what you owe (a loan, a study debt, a payment arrangement) and what others owe you, and shows when each one is paid off.

Add a debt

Use the + add menu → Debt. Choose I owe or I am owed, then fill in:

• Name, Balance and the date that balance is from (Balance as of).
• Minimum monthly payment and the Annual interest rate, if there is one.
• Start date and, optionally, the Original debt amount to see how far you’ve come.
• Linked recurring bills: the recurring payment that pays it off. Or switch on Also create a recurring bill to make one now.
• A note, an icon and a colour.

Link the bill

When you link a recurring bill, its payments count as progress on the debt, and its amount becomes the minimum payment. Type a different amount in Minimum monthly payment to override it.

The overview

At the top: You owe and Owed to you. Each debt shows its balance, how much of each payment goes to interest, and the month it’s paid off. If a payment doesn’t even cover the interest, Arca says Never at this rate.

Open a debt for its details: the linked bill, the interest in each payment, and every payment still to come. The pencil edits it.

Payoff timeline

The Payoff timeline shows when you’re debt-free and when each debt is done, with the months left.

What if I pay extra?

Slide Extra each month to see what paying a bit more does:

• Sooner by: how many months earlier you’re debt-free.
• Interest saved.
• Free to spend each month: what’s left for you after the extra.

The extra goes to your debts in the order of the list. Sort it to choose which one gets it first: Highest interest first, Smallest balance first, Paid off soonest or Largest balance first. The payoff dates move along as you slide.

Money owed to you

Debts others owe you, and money you advanced that’s only partly paid back, are listed under Owed to you. Choose Mark as settled once it’s done; any recurring payments linked to it stop from today.