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How to manage your Debts

Managing your Debts with myPortableFinance is a cinch, just add one/all of your Debts and MPF will do the rest!

Part 1 - Manual Adding of Debts

1. Tap/Click "Add New Debt"

2. Fill out the transaction form

When you add a new Debt, it is automatically created as an Annual Expense, this means you will receive notifications to keep on top of your payments and will auto organise your transactions via the Debt category

Part 2 - Breakdown of Debt

Transaction - Expense Transaction data (added once linked to a transaction)

Friendly Name - Friendly Name for the expense displays

Interest - Interest Rate

Financed - Total amount financed (loaned)

Cycle - Debt Cycle, how often the instalment is required

SOL - Start of Loan

EOL - End of Loan

Bank - Bank financed with (or person)

Compounding Interest - Check if Debts interest is compounding

Part 3 - Breakdown of Debt Actions

View Debt

Track new Re-Draw - if your debt/loan has the option for Re-Draw, please track re-draws here

Track new Additional Payment - when you make an additional payment myPortableFinance will automatically sync additional payments. However if you are making cash payments, you can manually track additional payments here

Delete Debt

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Article last updated: 18/04/2021