Loan Payoff Progress and Graph, Goal
O
Overseas Grasshopper
Would be helpful to be able to see the progress on loan accounts:
- Interest Paid so far
- Next Interest Payment
- Interest Graph
- Principal paid so far
- Upcoming Principal payment
- Principal graph (should be in the same graph as interest graph)
And maybe automated suggestions on how to pay less interest in the loan by suggesting higher principal payment options.
Something similar could be done for credit cards too maybe but would be great for mortgage, car loans and other loans.
Part of budgeting is understanding debt and managing it better.
O
Olivia
Merged in a post:
Debt Payoff Goal
O
Olivia
Goal specifically for tracking the payoff of debts.
O
Olivia
Merged in a post:
Using algorithms for debt payoffs
N
Nutritious Swordfish
Based on the accounts connected, the app could suggest which debts to tackle first and amount users can put towards paying things fully off. On a UI standpoint, you can create a secondary page/graph in which it can show the user some sort of timeline as to when they’ll be debt free if they stick to the plan and such. Huge opportunity here for the app!
O
Olivia
Merged in a post:
Snowball Debt Reduction
B
Burnt sienna Goldfish
I'm using a snowball method to get debt free. It would be nice if I can see that progress in here.
O
Olivia
Merged in a post:
Income-based debt repayment strategies and suggestions
R
Renewed Panther
It would be great if monthly the the app is capable of making suggestions on what percentage of income can be used to quickly repay debt based on income averages and budgets.
The app can ask which budgets can be reduced or not and then that budget reduction plus willing percentage of income can be used towards the debt total.
There could also be choices for different repayment strategies as well. For example the snowball method - paying off the smaller debts first then when the card is paid off taking those payments and putting it towards the next credit card’s payments