Forecast credit card interest in Projected Cash Flow (edited)

RobWilk
RobWilk Superuser ✭✭✭✭✭
edited August 28 in Feature Requests

I totally understand that many people don't carry balances on their credit cards, which is my 'normal.' For those people, this request will be of no use.

But I had an unplanned emergency, and now I'm carrying balances.

In terms of forecasting payoff, it would be helpful to visualize a payoff date if forecasted interest were there and based on the balances in the cash flow forecast.

-Rob

(I did a quick search, and could not find an existing idea. — if this idea already exists, please merge it and add my vote if it's not already there)

—
Rob Wilkens - RobWilkens.com

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  • Dick_Davis
    Dick_Davis Member ✭✭✭✭
    edited August 29

    @RobWilk, This woudl be very similiar to the Qucken Classic by doing a "What if an additional $$, thebn when could I get this paid off." I only used it a ffew times in Quicken Classic.

    Dick Davis

    Wanting to Migrate from Quicken Classic Premier to Simplifi

  • Jenny T
    Jenny T Member ✭✭✭

    @RobWilk Isn't the credit card interest already included in recurring payments, potentially doubling the amount in projected cash flow? I think what you might be wanting is to budget for a set principal payment plus the accrued interest (with the system auto-calculating the estimated interest)? I could see the benefit in this as this is essentially what I do with my HELOC, but it’s different than budgeting for a set principal & interest payment. For my HELOC, my recur is currently set to the expected total payment and as it pays down, I just lower the recur amount periodically. If this an accurate assessment of this request, I could see the value in it as long as it allows for the flexibility of budgeting both P&I and P+I.

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