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🎬 Watch the Video Tutorials
Learn how to manage loans and link payments in FinyxFin.
📱 Overview
Track mortgages, car loans, student loans, personal loans, and any other debt. See your payoff progress, link payments automatically, and stay motivated as your balance decreases.
💰
Balance Tracking
See remaining loan balance
📉
Payoff Progress
Watch your debt decrease
🔗
Linked Payments
Connect transactions automatically
📅
Payment Schedule
Track due dates and reminders
📋 Types of Loans You Can Track
| Loan Type |
Examples |
| Mortgage |
Home loan, property loan |
| Auto Loan |
Car loan, motorcycle loan |
| Student Loan |
Federal loans, private education loans |
| Personal Loan |
Bank loans, peer-to-peer loans |
| Other |
Medical debt, family loans, business loans |
➕ Creating a Loan
1
Open Loans
Navigate to the Loans section from the sidebar
2
Click Add Loan
Start creating a new loan
3
Enter Loan Name
Give it a descriptive name (e.g., "Honda Civic Loan", "Mortgage")
4
Set Original Amount
The total amount you borrowed
5
Set Current Balance
How much you still owe today
6
Add Interest Rate (Optional)
The APR on your loan
7
Set Monthly Payment & Due Date
Your regular payment amount and when it's due
8
Save
Your loan is ready to track
📊 Loan Dashboard
Each loan shows key information at a glance:
The loan card displays:
- Current Balance — How much you still owe
- Original Amount — Total borrowed
- Amount Paid — Total payments made
- Progress Bar — Visual payoff progress
- Next Payment Due — When your next payment is due
💵 Making Loan Payments
Link transactions to loans to automatically reduce the balance:
Method 1: Single Payment via Transfer
1
Go to Transactions
Open the Transactions screen and click Add
2
Select Transfer
Loan payments are transfers from your account to the lender
3
Enable Link This Transaction
Toggle on the linking option
4
Select Your Loan
Choose which loan this payment applies to
5
Enter Amount & Save
The loan balance decreases automatically
✅ Automatic Balance Updates
When you link a payment to a loan, the remaining balance decreases automatically. The payment appears in the loan's transaction history.
📦 Bulk Linking Payments
Already imported bank transactions that are loan payments? Link them in bulk:
1
Select Multiple Transactions
In the Transactions screen, select the loan payments
2
Click Link to Entity
Choose the bulk linking option
3
Select Loan
Choose which loan to link them to
4
Confirm
Transactions become loan payments automatically
🔗 Bulk Conversion
When you bulk link expense transactions to a loan, they are converted into loan payments. The loan's transaction history and remaining balance update to reflect all linked payments.
📜 Payment History
Each loan tracks its complete payment history:
- Open the loan you want to review
- View the Payments or History tab
- See all linked payments with dates and amounts
💡 Viewing in Schedule
Upcoming loan payments appear in Schedule → Bills & Loans, alongside your bills. This gives you a consolidated view of all upcoming payments.
💪 Making Extra Payments
Want to pay off your loan faster? Make extra payments anytime:
- Link additional transactions to the loan
- Each payment reduces the balance
- Watch your payoff progress accelerate
🎉 Early Payoff
When your loan balance reaches zero, it's marked as paid off. Congratulations on becoming debt-free!
❓ Frequently Asked Questions
Q: Should I use Transfer or Expense for loan payments?
Use Transfer when linking to a loan. This properly reflects money moving from your account to pay debt, rather than being spent.
Q: How does linking affect the loan balance?
When you link a transaction to a loan, the payment amount is subtracted from the remaining balance. The progress bar and payoff percentage update automatically.
Q: Can I track multiple loans?
Yes! Create separate loans for each debt — mortgage, car loan, student loans, etc. Each tracks independently with its own balance and payment history.
Q: What if I delete a linked payment?
The loan balance increases by that amount (since the payment is removed), and the transaction is removed from the loan's payment history.
Q: Can I manually adjust the loan balance?
Yes, you can edit the loan to update the current balance. This is useful for corrections or when starting to track an existing loan.
Q: Does FinyxFin calculate interest?
FinyxFin tracks your interest rate for reference, but doesn't automatically calculate accrued interest. Update your balance periodically to match your actual loan statement.
Q: How do I handle refinanced loans?
Mark the old loan as paid off, then create a new loan with the refinanced terms and balance. This keeps your history accurate.
Q: Are loans included in net worth?
Yes, loan balances are counted as debt and reduce your net worth. As you pay them down, your net worth increases.
💬 Need Help?
📧 Contact Support
Email us at: support@finyxfin.com
Include "Loans" in your subject line for faster assistance.