Debt accounts are finally here!!!

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  • Praise
  • Updated 10 months ago
I just added my first loan and set up a recurring debt payment.  It was really easy.  There are cool graphs/reports.  This looks really well done.  Still excited to see how the finer details work.  Great job, GB team!  Still waiting for my Android app to update.
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Wayne Woodbury

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  • Excited

Posted 1 year ago

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Telt1910

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I totally agree! I added my brand new mortgage (great timing, Goodbudget) and the P and I are on the money.
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Karisa Russell, Official Rep

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Hi all, 

We're glad to hear you like the features so far! And, FYI to anyone reading, the features are being rolled out slowly. So, if you don't have access to them yet, but would like to, just email us at support@goodbudget.com and let us know :D 

Karisa
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Gibran Velazquez

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Hi, How can I get access to this feature. I would love to try it.
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Alex Park, Official Rep

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Hi Gibran,

I just saw and responded to your email, but please let us know if you have any other questions!
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Allen Francis

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How does this tool (loan) work? I have a loan too and it would be interesting use it. Is there a tutorial?
(Edited)
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Karisa Russell, Official Rep

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Hi Allen, 

I'm so sorry for my delay! I must have accidentally resolved this case before responding. 

To answer your question, the debt features are designed to help you track your debt payoff progress. So, they're great for helping you track your payoff for your car loan, medical bills, or credit cards you're no longer using. 

Essentially, you set up a Debt Account, and then link it to your existing Debt Payment Envelope (or make a new one, if you don't have one already). Once you've done that, you can fill your payment Envelope and record Debt Payments, and watch the balance of your Debt Account get smaller. 

To clarify, these are web only features, so you can make Debt Account and Debt Transactions on the web. However, you'll be able to see your Debt Account and Envelope in the app. 

Let me know if you're interested in trying them out!

Karisa
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Dawnn Helene Wienecke

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I am a little confused how this feature works, I set up the credit card payments and paid one of them. the total balance for my debt does not go down though. I have a 0% interest card so all the monies should go towards the balance yet it stays the same. Am I missing something?
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Alex Park, Official Rep

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Hi Dawnn,

Sorry for the confusion! I've just responded to your email directly, but please let us know if you have any other questions.

In case anyone else is confused -- the new debt accounts are a different type of account than the existing credit card accounts, and have their own section in the Add/Edit Accounts screen. Currently we are rolling out these debt features slowly to all households, so if you don't yet see that new section in your household and would like to try them out, please give us an email at support@goodbudget.com and we'll help you get set up.
(Edited)