Loans and Cash Flow
I have a series of student loans. When I go to the Cash Flow tab, they all appear on the graph. I usually go to turn them all off right away because they clutter up the graph, which is… fine. Of course, when I leave the tab and come back, there they are all again… sigh… Am I crazy or do the loans have no business being on the graph at all… or in my simplifi account (aside from net worth [cry]) …they are just flat lines and there is no way to make them anything but (maybe don't have them on the graph until implemented)… But it would be nice to project the loans out based on their interest rates (which, at the very least, could be manually input), and a transfer from a checking account that would be made in the Transfers section of the Spending Plan. I understand that without a matching transaction on the side of the student loans that match the outgoing money from the checking account, there would be no way to verify "paid" etc… but it could at the very least be implemented without this feature, or a manual checkbox marking "paid". Of course, this is mostly for projection purposes anyway, and you could still link to a real transaction and a real amount for recording.
The Cash Flow graph should also only automatically include accounts that have incoming/outgoing money. Toggling off every time is annoying.
I think this feature would not be that difficult. The avalanche method of paying off loans makes this realistic too, I will pay the highest-interest loan down to zero (the entire transfer goes to one loan), then move on when complete.
This brings me to another point. Maybe I want to project on the cash flow graph the paying down of a credit card or loan (by creating a recurring transfer). I feel it would be neat to have Simplifi understand when the balance will reach zero (projected) and mark that date as the completed date (similar to how the savings goal can calculate that) and even have the final payment get the balance to exactly zero.
Anyways, just some ideas:
Exclude Accounts from Cash Flow if there is no reason for them to be there. i.e. there is no way to project anything on those accounts (currently my student loan accounts) or even if there is nothing currently being projected on them (toggle for showing accounts accruing only interest).
Include the ability to have planned transfers to a specific loan account which will show on the Cash Flow.
Have the ability to manually input interest rates for loan accounts, which would be used for the cash flow graph.
Calculate the date of pay-off and final payment amount to get to zero (for loans and credit cards) so the balance doesn't go negative.
At the very least, have there be some way to justify having my student loans automatically populate the Cash Flow graph every time I open that tab. :D
Comments
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This has been raised before. You might want to add your vote here. Also review this thread.
And comment on them, to raise visibility :)
Anthony Bopp
Simplifi User Since July 2022Money talks. But all my paycheck ever says is goodbye1 -
@jflora, I'd also suggest checking out this existing topic:
-Coach Natalie
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