Loan or Mortgage Payment Setup

Overview

Note: For best results, exclude escrow from your mortgage payments and set it up as a separate expense on the same repeating schedule. Since escrow amounts can fluctuate and don’t affect your loan’s interest, tracking them separately makes your forecast more accurate and easier to manage.

1. On the main list, tap +/− → choose Loan/Debt Plan.

1. Category
   Pick the loan type (e.g., Mortgage, Auto, Credit Card). Optionally add a short label like “Chase, Jenny, Audi” for clarity.

2. Payment
   Enter the regular payment amount. This is your total scheduled outflow.

3. Payment Schedule
   Set Repeats Every → choose Once / Day / Week / Semi / Month / Year.

   • Monthly mortgage: Repeats Every: 1 + Month.

   • Bi-weekly: Repeats Every: 2 + Week.

   • Semi-monthly: choose Semi.

4. Lender
   Select an existing lender account or Create a new one. This account tracks principal.

5. Balance & Interest

   • Balance: enter the current principal (negative value shows an owed balance).

   • Interest Rate: annual rate (APR) as a number, e.g., 4.000.

6. Next Due Date
   Set the next payment date (the app will schedule future ones from here).

7. Save
   Confirm to add the plan to your forecast.

Related:

Making an Extra Loan Payment

Net-worth, Assets, Loans & Appreciation