Add a debt payoff calculator/goal [edited] (4 Merged Votes)
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Bump. This is an essential feature — please add.
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echoing all of the above. I just signed up for Simplifi and was shocked to see debt payoff plans are not a feature.
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In the goal section of the website, there should be a way to add a debt pay off goal for student loan accounts, mortgage accounts, and credit card accounts.
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Vote for the existing request:
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Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
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I don't understand how Simplifi currently uses the GOALS. To me it's all about the balance and linking multiple accounts. People might want a net worth goal, certain loan goals, saving goals or more. In Mint, it just looked at how the balance was growing and if it was projected to hit the goal (meaning ahead or behind desired schedule).
Can we please change it so this is easier in Simplifi? It's way too manual right now. I use some of my interest money towards my goals and that can fluctuate every month so just using the total balance and from multiple accounts would "simplify the Simplifi" Goals. ;-)
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I would love to see this feature as well. Starting off 2024 with a goal of reducing debt, and would love a tool that let me do all I need in one place. Especially seeing how my debt payoff goals affect my overall budget so I know I'm not being overly ambitious and wrecking my budget.
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Would love to see this feature, for me it's a core requirement of any personal finance application. Honestly my first assumption when I couldn't find how to add a goal to pay off a credit card was that I just didn't understand how to use Simplifi,
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I just wanted to add, one of the main appeals of a 'debt payoff goal' feature is being able to set it up with something like a minimum payment, and then be able to see the difference when additional payments are made. A nice incentive/progress tracker that clearly shows how much of a difference your extra efforts have made.
For example, I've paid an extra $500 the last 3 months on my car payment, I want to see that I'm $1500 ahead of my expected loan balance, and maybe even show that the expected payoff date is now March 2025 instead of June 2025.
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I would add that it's more complex than that. I've been doing this for years with my mortgage payment, which has shortened the length of my loan by years.
So ideally it would also account for the interest you're paying and how much less interest you will have to pay (which is the main factor in the length of time to pay off a loan).
Anthony Bopp
Simplifi User Since July 2022Money talks. But all my paycheck ever says is goodbye0 -
I am a long-time Quicken Classic user who recently transitioned to Quicken Simplifi. In the classic version, I frequently utilized the Debt Reduction Planner under the planning section.
However, I was just made aware the Debt Reduction Planner is not part of Quicken Simplifi. This is mandatory for me to move over from classic causing me to pay for two subscriptions.
Thank youAlbert
[Merged Post]
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Your idea is already in review and has over 100 votes. It is better to vote for an existing idea as it increases the chances for consideration.
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Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
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@ajbopp I completely agree, ideally it would account for interest. I was just trying to use an overly simplified example.
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Would love to be able to set up a debt snowball or Avalanche or other paydown option for paying off debt when viewing and planning monthly budget instead of having to use a seperate app to know how much I need to pay to specific debts to pay them off.
So far, the lack of a debt paydown is the only big disappointment I have but it's big enough to make me debate finding a different budget manager when my yearly subscription is up.
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Any progress on this??
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I need a debt payoff tracker.
Is there an ETA for this feature?
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