Knowledge Base Articles For Advanced Functions

Does Undebt.it support multiple interest rates?

Created February 19, 2021 | 159 Views

Undebt.it does not yet support multiple, tiered interest rates. However, it's high on my list of things to do. One thing you can do in the meantime is figure out the weighted interest rate of the tiers and use that as your interest rate. Tiered interest rates are when you have an account with some ...read more

How do I deal with bi-weekly payments?

Created February 17, 2021 | 140 Views

This site is based on accounts with monthly payments, but there is a way to workaround the problem. First, change the due date of the account to the end of the month. Record your payments as you normally would, but you'll have to override the payment amount. When you make payments, keep an eye on th...read more

How is monthly interest accrual handled?

Created February 17, 2021 | 103 Views

Interest is automatically accrued (added to the balance of your account) once a month - you do not need to manually add the interest charges. The day of your account's due date is used as the accrual date. For example, if you have an account that is due on 3/29, the interest will be accrued every mo...read more

Can I skip a month of payments if I need to?

Created February 17, 2021 | 101 Views

Sure. What you would need to do is go to the Additional Payments (debt snowflake) page and create a snowflake with the negative amount for the month you need to skip. For example, if your current snowball amount is $250 but you know you won't be able to pay anything extra next month; create a snowfl...read more

Can I track more than one set of accounts?

Created February 18, 2021 | 94 Views

No, this site is meant to track only one set of accounts. You can, however, create another account under a different e-mail address and track additional sets that way.

Can I connect my bank account like Mint does?

Created February 17, 2021 | 82 Views

No, unfortunately this will probably never happen. It is just me running this site and connecting third party banking information takes a tremendous amount of time and resources. You can however, use Undebt.it+ to sync with your YNAB account....read more

How do I use debt snowflakes?

Created February 17, 2021 | 78 Views

Debt Snowflakes are handled on the Additional Payments page. All you need to do is enter in the billing month and amount you plan to have extra. You can have more than one snowflake in a month if you like (they are added together). You can even have a negative snowball amount in a month if you know ...read more

I added another debt account and my total monthly budget went up. What happened?

Created February 17, 2021 | 78 Views

For Undebt.it to work correctly, you need to be able to at least pay the minimum amounts due on all of your accounts. Let's say you have a monthly budget of $1,000 and the total minimum payments due on your debt accounts is $900. Then you decide to add another debt account that has a $150 monthly pa...read more

I created a snowflake but my balance stayed the same

Created February 25, 2021 | 51 Views

Creating a snowflake doesn't affect the balance immediately. It will adjust your monthly budget so your scheduled payment will be bigger. When you record the actual payment is when the balance and progress will change.