Add a debt payoff calculator/goal [edited] (4 Merged Votes)

tycap1 · December 2023

Bump. This is an essential feature — please add.

AndyD561 · December 2023

echoing all of the above. I just signed up for Simplifi and was shocked to see debt payoff plans are not a feature.

wba · December 2023

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.

UrsulaA · December 2023

Vote for the existing request:

[removed link to merged thread]

Matt Anfang · December 2023

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. ;-)

Chris Carrick · January 5

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.

SuperBoots · January 11

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,

SuperBoots · January 13

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.

ajbopp · January 13

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).

ADzurka · January 14

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 you

Albert

[Merged Post]

UrsulaA · January 14

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.

[removed link to merged thread]

SuperBoots · January 17

@ajbopp I completely agree, ideally it would account for interest. I was just trying to use an overly simplified example.

Livin4me2 · February 21

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.

dnolan01 · February 28

Any progress on this??

Coach Jon · February 28

Hello @dnolan01,

We do not have a current update on adding this feature yet, but with the number of positive votes on this post, I can see it eventually being added. Thank you for checking in with us!

Regards,

Coach Jon

KMAP · March 16

I need a debt payoff tracker.

Is there an ETA for this feature?

Candice318 · May 17

Agree this is a beneficial enhancement. Something that allows choice of different repayment types (Avalanche, Snowball, Custom, etc). Let you see how quickly making extra payments can get rid of debt faster. Maybe even link to the account on the banking size. Recently started Debt Payoff Planner an Apple app.

putty808s · July 11

Paying off debt is something we all deal with, yet it's no where to be found on this app. I find debt is often a more painful topic than savings. They coincide and one looms larger in all of us. I've read comments about a 0% apr calculator / early mortgage payoffs / ect.. Each or any of these items would be appriciated, and perhaps a more general tool with timelines, apr% would be a great start.

dnolan01 · September 10

https://community.simplifimoney.com/discussion/comment/30200#Comment_30200

Hello again! Checking in. Is this finally in the official pipeline? It would be really awesome to not have to manage separate sets of data.

Add a debt payoff calculator/goal [edited] (4 Merged Votes)

Comments

Categories