How do I use the Debts widget in Citadel Money Manager?

Frequently Asked Question

Debts

The Debts widget allows you to see all of your debt accounts in one place and to calculate how making additional payments, or paying off your debt completely, can impact your debt over time. You can calculate paying off your debt using the Snowball method. This method helps you pay off your debt in the fastest way possible, focusing on your smallest debt first.

Note:  This widget is only available on a desktop and tablet.

The main view is the trending graph for paying off all of your debt.

To view Debts:

  1. Hover your mouse over a section of the graph to show how much you will owe based on the current projection.

  2. Note:  The colors in the graph correspond to the numbers beside each account. Payoff dates and the amount you save are automatically calculated by the details you input for each debt. The dotted line reflects time and money savings from using the Snowball method.

  3. Click the information icon (), to see how Snowballing helps you pay down your debt more quickly. Both the amount and time saved are prominently displayed.
  4. Click on an account to edit details and view an individual payoff graph.
  5. Hover your mouse over a section of the graph to see how much you will owe based on the current projection.

Note:  Some financial institutions may not provide details such as the interest rate and minimum payment. PFM will make its best guess on what these figures should be, but always double check and, if necessary, manually enter in the correct information.

If you don’t want to use the Fastest Payoff First method, you can set the priority to Highest Interest First, Lowest Balance First, or Highest Balance First by clicking on the drop-down menu in the navigation bar.

  • Fastest Payoff First – Debts are ordered by which debt you will pay off soonest based on balance, annual percentage rate (APR), and minimum payment. Your additional amount towards your debts is applied in that order as you pay off your debts.
  • Highest Interest First – Debts are ordered from your highest APR to the lowest APR. Your additional amount towards your debts is applied in that order as you pay off your debts.
  • Lowest Balance First – Debts are ordered by balance amount from Lowest to Highest. Your additional amount towards your debts is applied in that order as you pay off your debts.
  • Highest Balance First – Debts are ordered by balance amount from Highest to Lowest. Your additional amount towards your debts is applied in that order as you pay off your debts.