Debt payoff planner
Record loans and credit cards, choose between Avalanche and Snowball, track your debt effort rate, and see how much you save by paying more than the minimum. As soon as you have a debt on file, the top of the page sums up the plan in one sentence and tells you exactly what to pay this month.
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Add your first debt
Press Add debt — on the plan's starting screen, or from the New button in the side menu on any page — and enter the institution, type, outstanding balance, interest rate, and minimum payment. The minimum payment can be a fixed amount or a percentage of the balance — credit cards usually work that way. You can also set a late fee (optional) — what the lender charges if you miss a payment; it's informational only and never enters the plan's calculations. If the credit has a promotional rate (for example, 0% for the first few months), switch that toggle on and enter the rate and duration — the projection uses that rate until it ends, then reverts to the standard rate. As you fill it in, the window shows the payoff time, estimated interest, and a chart of the projected balance.
- Credit Card — revolving balance, minimum usually a percentage.
- Personal Loan — a loan with a fixed instalment.
- Auto Loan — vehicle financing.
- Mortgage — your home loan.
- Other — any debt that does not fit the above.
TipFill in the payment day so the debt shows up in the month's payment card. Without it, the debt still counts in the maths but never warns you when it is due.
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See your plan at a glance
Right at the top of the page, a card sums up the plan in one sentence: when you can be debt-free, which of the two strategies pays off more for you and, if the other one clears your first debt sooner, it tells you that too. It is calculated from your own data — not generic advice.
TipBelow the sentence is the one thing you actually need to do this month: how much to pay and on which debt — split into minimum and extra when there's a surplus, with a line saying what it protects ("keeps you on track to..."). A button opens the payment record already filled in. Once at least a day has passed, a "Since {month}" line also appears with what's changed since then — debts cleared, whether you're ahead of or behind schedule, and how much less (or more) you owe.
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Ask the assistant
Inside the same card, below the summary, is the Debt Plan Analysis section. By default it shows a chart comparing the cost of Avalanche and Snowball — but you can also tap one of the suggested questions (for example, "How can I pay this off faster?" or "Am I on track?") and the answer replaces the chart temporarily. Tap New question to see the chart again and pick another.
TipThe section starts collapsed — tap the arrow to open it. Your choice (open or collapsed) is remembered on this device. Asking the assistant is an Essencial-and-above feature; on free plans you still see the comparison chart, but the suggested questions appear locked.
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Choose your strategy
Both strategies always pay every minimum. The difference is where the extra money goes.
- Avalanche — targets the highest interest rates first. This one pays the least interest overall.
- Snowball — targets the smallest balances first. It closes debts sooner and keeps motivation up.
TipDo not guess: the Comparison tab runs both against your actual numbers and tells you how much interest and how many months one saves over the other.
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Pay more than the minimum
The Monthly extra field is what you can pay each month on top of the minimums. This is the number that does the work: the strategy applies it to the target debt, and when that one closes, the freed-up amount rolls onto the next.
TipIf the minimums do not even cover the interest, the page warns you in red — the debt then grows every month and the extra stops being optional.
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Fund the extra from your Budget
Next to the Monthly extra, choose Use my Budget to fill it in automatically from what's unallocated on the Monthly Plan card (in Budgets), or Custom amount to type your own. With "Use my Budget" on, turn on Keep synchronized to have the extra update whenever your Monthly Plan changes — turn it off to freeze it at its current value.
TipSave to Budget records the total monthly payment (minimums + extra) as its own line on the Monthly Plan, separate from the "Credit & Loans" limit. It stays exactly as saved until you press the button again — it never updates on its own.
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Read the projection
The projection card sums the plan up in four numbers: total time, projected payoff date, estimated interest, and the required monthly budget. These are projections from your own data, not settled figures — they change whenever you edit a balance, a rate, or the monthly extra.
TipIf you have a Budget limit set for "Credit & Loans," it shows up under the required monthly budget figure, in red whenever the latter exceeds it. It is a visual comparison only — the two figures stay independent, and adjusting one does not change the other.
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Explore the six tabs
Each tab answers a different question about the same plan:
- Overview — how each balance falls and how interest builds up over time.
- Savings — what you gain in interest and time versus paying only minimums, with a button to simulate 10% more and the "What-if" Simulator: a one-time bonus in a month you choose, instantly showing the new debt-free date, interest saved, and which debt gets paid off first.
- Payoff Timeline — the month each debt is cleared.
- Comparison — the lowest cost and the fastest win, side by side, so you can pick what matters more to you.
- Effort Rate — how much of your income goes to instalments.
- Year over Year — what you paid this year against last year.
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Check your debt effort rate
The effort rate divides your monthly minimum payments by your take-home income and tells you whether the load is sustainable. Below 30% it reads Comfortable, above that Attention, and above the reference High.
TipIncome is detected from your income transactions in the current cycle, but you can type it in by hand if yours is irregular. The reference defaults to 45%, the figure the Bank of Portugal uses when assessing new credit, and you can adjust it too.
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Record the month's payments
Debts with a payment day appear under This month's payments, ordered by urgency. On each row you can record the payment, create a reminder, or, if you marked it by mistake, undo it. If the list has more than 5 debts, pagination appears at the bottom of the card. The top of the card shows the total still owed this month and a preview of next month's total. If a debt goes overdue and you set its late fee, a line tells you exactly what that fee costs you.
TipWhen you record a payment, iowii also creates the matching transaction by default, so your debts and your accounts never tell different stories. You can choose to record it against the debt only. If a debt builds up several missed months, the row shows "N overdue payments" instead of a single date — tap it to see a summary of each missing month and record each one.
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Reconcile payments you already made
If you paid through the bank and the transaction is already linked to the debt, but the month is still unmarked, the reconcile icon at the top lists those matches with a counter. Confirm and iowii marks them all at once.
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Put your surplus to work
The Repayment Capacity panel takes your balance, subtracts the minimums still due this cycle, and shows what is left available for repayment. The attack order names the next debt to hit under your chosen strategy, badging the target.
TipIf the remaining minimums exceed your balance, the panel warns you — that is a cash-flow squeeze, not a mistake.
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Manage each debt
The ⋯ menu on each debt lets you edit its details, open the history with the full amortization table, record a credit increase, hide the debt from the projection, add a reminder, or delete it.
- History — every instalment with principal, interest, and balance, plus its paid or pending state.
- Credit increase — adds to both the balance and the original capital, so progress stays accurate.
- Hide — drops the debt from the maths without deleting it, useful for testing scenarios. Shared with anyone who has access to your financial space.
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Use the debt planner on mobile
On mobile, the page has its own layout: the total owed sits in the coloured header, with the Avalanche/Snowball strategy right below it. Then come this month's payments, the four projection numbers, the monthly extra, repayment capacity, and — before the debt list — the same Payoff projection card with its six tabs (Overview, Savings, Payoff Timeline, Comparison, Effort Rate, Year over Year) — the maths behind them is identical to the desktop version.
- Each debt — record a payment, edit, or delete, with confirmation.
- This month's payments — record, create a reminder, or undo a payment already recorded.
- Record payment — settles the amount on the debt and, by default, also creates the matching transaction.