Tracking debt and payments
Debt is part of net worth and part of the monthly plan. Link the payment to the debt so paydown shows as progress.
Seed tracks debt in two places at once: as a liability reducing your net worth, and as a payment inside your monthly plan.
- Plan the payment as a forecast expense item, then use Link to Debt to tie it to the balance it pays down.
- Track balances, minimum payments, due dates, interest, and payoff progress where your institution reports them.
- Reducing debt raises net worth and can improve your Seed Score over time.
Credit card payments are transfers
Paying a card from your checking account is money moving between your own accounts, so Seed treats it as a transfer and pairs the two sides automatically. Dropping that payment onto a credit card or debt forecast item fills that item's spent bar, which is how a planned payment is marked as made. See Transfers between your own accounts.
Debt-free is not a dead end
If your liabilities fall under 1 percent of your net worth, the Seed Score debt-reduction points are earned by growing invested assets instead, so the score keeps rewarding you after the debt is gone.
Related articles
Transfers between your own accounts
Moving money is not spending. Here is how Seed pairs the two sides, and the one case where dropping a transfer on an expense item is exactly right.
Linking a forecast item to a debt, goal, or investment
Connect a monthly item to the bigger thing it feeds, so progress is tracked in context instead of in isolation.
Adding a billing cycle: statement date, due date, credit limit
When your bank does not report a card's dates, add them yourself and they appear on the forecast calendar.
How Seed Score works
Four scored components, five tiers, and a weekly pulse of what is helping and what is holding you back.
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