FAQ Tags: Budget

The amounts the plan is wanting me to pay are very high

Created February 17, 2021 - 18,619 Views

It sounds like you either have your monthly budget set too high *or* you are joining mid way through a billing cycle and you have already paid some of your debt accounts for the month. Undebt.it will try and use all of your budget each month to pay down debt and if you have just created an account, ...read more

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

Created February 17, 2021 - 13,872 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 added another debt account and my monthly budget went up.

Created February 17, 2021 - 19,231 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 change the debt snowball amount?

Created March 10, 2021 - 23,381 Views

The debt snowball amount is not something you can change directly; it's a calculated amount. The snowball amount is the difference between your total budget amount minus the sum of your minimum payments. For example, if your total budget is $1,000 and the you have 2 credit cards with a $200 payment ...read more