One time payment to Debt payoff simulator

Is there a way to add a one-time payment into the debt payoff calculator? For example: When I get my tax refund, I want to allocate a large amount into paying off debt. I want to make sure I am doing it in the most efficient way possible. Is there a way to do that or should I just up the monthly allotment by the amount I wish to allocate.

Hi @david.r.moore2020 . Just to clarify are you referring to this solution here? Please note there is now the Tiller supported Debt Payoff Planner you can easily install through the Tiller Money Feeds add-on/add-in.

I believe they work similarly in that you can track the liability accounts you wish to pay off and the payoff method you wish to use, monthly payoff goal and so on and the progress reflected will be based on the balance on that account no matter which method/frequency of payment you use. So as per your example if you use your tax refund once that transaction clears the planner will reflect the balance and you can see how that changes the progress. Hope that helps!

1 Like

This helps! Thanks you so much!

2 Likes

No worries happy to help!