FAQ Articles For Advanced Functions

How do I deal with bi-weekly payments?

Created February 17, 2021 - 28,371 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

Does Undebt.it support multiple interest rates?

Created February 19, 2021 - 25,744 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

Can I track more than one set of accounts?

Created February 18, 2021 - 24,729 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.

How is monthly interest accrual handled?

Created February 17, 2021 - 20,212 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

I added another debt account and my monthly budget went up.

Created February 17, 2021 - 19,022 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

How do I use debt snowflakes?

Created February 17, 2021 - 17,598 Views

Debt Snowflakes are handled on the Additional Payments page and are meant to assign an additional snowball amount on top of your existing snowball amount. All you need to do is enter in the billing month and amount you plan to pay extra. You can have more than one snowflake in a month if you like (t...read more

Can I connect my bank account like Mint does?

Created February 17, 2021 - 16,543 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

Can I schedule a future debt payment?

Created March 8, 2021 - 15,584 Views

You can record a payment transaction that is future dated. Go to the Debt Details page for the debt account create a manual transaction. Set both the transaction date and the billing month to the month you want the payment to be posted. When the future month arrives, the payment will show up on the ...read more

The custom debt payoff order is not working as expected

Created March 10, 2021 - 14,731 Views

Almost all issues related to custom debt payoff order have to do with the deferred interest option on the debt details page. A debt account that is truly a deferred interest account needs to be paid first regardless of plan, so these debts are automatically put to the top of the list. If you are no...read more

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

Created February 17, 2021 - 13,638 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

I created a snowflake but my balance stayed the same

Created February 25, 2021 - 13,433 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.

Can I allocate a snowflake payment to a specific debt?

Created March 8, 2021 - 13,424 Views

You cannot choose a particular debt account to allocate the debt snowflake additional payment. The snowflake gets allocated to the first debt in line to be paid off based off of your selected payoff method.

How can I save my plan to Excel?

Created March 7, 2021 - 11,612 Views

To save your debt snowball payoff plan to Excel, go to the Debt Snowball Table page and click on the Save to Excel button. This file can also be opened in Google Sheets and other spreadsheet friendly programs.

How do I handle promo interest rates?

Created November 17, 2022 - 10,613 Views

You can assign promotional interest rates to accounts on the Debt Details page in the Promotional Interest Rate section. Set the promo rate and the expiration month. The Use Promo Rate? check box turns the rate off and on, however, you don't need to turn the promo rate off when it expires. The Promo...read more

How do I pay less than the amount shown?

Created September 29, 2022 - 6,644 Views

The scheduled amount shown is just the recommended amount to stay on schedule. Of course you want to be paying at least the minimum, but there are times when you need to pay below the amount. If you need to make a lower payment, just record the payment like normal. If the amount is above the minimu...read more