Skip to main content
All CollectionsDebts
How to make lump sum contributions towards debt
How to make lump sum contributions towards debt

This article describes how to model making early payment to mortgages, student loans, and credit card debt.

Nancy Gates avatar
Written by Nancy Gates
Updated over 3 months ago

If you want to see how your plan changes through paying off debt early, you can model making lump-sum payments through My Plan > Money Flows.

  1. Create a Transfer by pressing "Add a Transfer +"

  2. Select which account will fund the payment

  3. Select the account or disbursement that will receive the payment (e.g., Primary Home Mortgage, Credit Card Account, Student Loan, Rental Mortgage, etc.)

  4. Enter the amount for payment

  5. Enter the year "You" will be when you make the payment (even if the payment is towards your spouse's account).

  6. (Optional) Add a note to keep track what this transfer is for

Did this answer your question?