Accounts
How should I track loans and debts (e.g. mortgage, student loan)?
We recommend tracking each loan as a separate account with a negative balance. That way, it is tracked as a liability against your Net Worth.
To create a loan account, please follow these steps:
  • Click Add > Account.
  • Select type as "Loan", then submit the form.
  • Once the account is created, click "Edit" and enter the loan balance as a negative amount.
Next, you can enter transactions into this account to track activity on your loan:
  • Loan payments: These should be recorded as transfers from the source account to the relevant loan account. Transfers affect your account balance and net worth, but do not affect your spending or income.
  • Interest accruals: These should be entered as an expense, so they show up in your Insights and Budgets.
Note that this is a guideline. We know for a fact that different techniques work for different users, so feel free to get creative with this suggestion :)
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