The debt planner projects when you'll be debt-free and what it costs in interest. What makes it different from a calculator is that the extra payment is real budgeted money, assigned to the target debt's own payment category.
Setting it up
Open Debt. Every non-closed liability is listed — credit cards, loans, mortgages.
1. Fill in the missing numbers. Credit cards need an APR and a minimum payment, because your bank doesn't send them. Loans and mortgages pre-fill from their terms if you've entered them. Anything missing is highlighted; the projection isn't meaningful until they're filled.
Minimums pre-fill at the greater of $25.00 or 2% of the balance — a common card formula. Replace it with your actual minimum if it differs.
2. Choose which debts are in. Cards and loans are included by default. Mortgages are excluded by default — most people don't want a 30-year mortgage dominating a payoff plan — but you can opt one in.
3. Pick a strategy.
| Strategy | Order | Why |
|---|---|---|
| Snowball | Smallest balance first | Fastest visible wins; easier to stick with |
| Avalanche | Highest APR first | Mathematically cheapest |
| Custom | Your order | When neither fits |
Avalanche generally costs less interest. Snowball generally gets finished. The difference is often smaller than people expect — switch between them and compare the totals directly.
4. Set your monthly extra. This is the amount beyond minimums you'll put toward the target debt each month.
The monthly extra is a budget goal, not spare cash
This is the part that differs from every debt calculator.
In a zero-based budget, Ready to Assign is $0.00 — there is no "leftover" to throw at debt. The monthly extra is a commitment you fund like any other category.
The This month's focus card shows the current target debt, what you planned to put toward it, and what you've actually assigned. Three ways to act on it:
- Set goal — puts a monthly goal on the target's payment category, so it shows on your Budget screen every month alongside your other obligations.
- Fund it — assigns this month's extra now from Ready to Assign.
- One-time payment — moves money in from another category, e.g. a windfall from Emergency Fund.
Every dollar lands on the target account's own payment category, so it's plainly attributed to that debt.
Reading the projection
- Debt-free date — when the last included debt clears, if you keep this up.
- Total interest — what the plan costs.
- Interest saved — versus paying only minimums.
- Milestones — as each debt clears, its minimum rolls onto the next. The chips show how much monthly money frees up and when.
Two caveats worth taking seriously:
It assumes no new charges. If you keep spending on a card you're paying off, the real date moves out. The card reserve keeps this honest — new spending shows up as it happens.
A debt that never pays off is called out loudly. If a minimum doesn't cover the interest, the balance grows forever and you'll see a warning. That debt needs a higher payment or a rate change, not a longer projection.
How a card's balance is counted
A credit card contributes its full balance owed, not just the unfunded gap.
That's deliberate: the whole balance accrues interest until it's paid, regardless of how much you've set aside. Money you've reserved shows up as progress in the funding view, not as a smaller debt.
Changing your mind
Strategy and monthly extra save as you change them, so you can try scenarios freely. Nothing is committed until you actually assign money.
Reordering under Custom lets you handle cases the two standard strategies miss — a debt with a promotional rate about to expire, or one you want gone for non-financial reasons.