Debt Tracker & Savings Goals
Track loans, choose a payoff strategy, and build toward your savings targets.
Adding Debts
Open the Debt tab and tap Add Debt to record a loan or credit obligation. AeroLedger supports several debt types:
- Bank loans — car loans, personal loans, or other bank financing
- Personal loans — money owed to friends, family, or informal lenders
- Credit cards — revolving balances with interest
For each debt, enter the total balance, interest rate (if applicable), minimum monthly payment, and any notes to help you remember the terms.
Choosing a Payoff Strategy
If you have multiple debts, AeroLedger can help you prioritize which to pay off first. Two proven strategies are available:
Snowball (Smallest Balance First)
Pay minimums on all debts, then put every extra dollar toward the debt with the smallest remaining balance. Once that's paid off, roll its payment into the next smallest. This approach gives you quick psychological wins — each debt eliminated builds momentum and motivation.
Avalanche (Highest Interest First)
Pay minimums on all debts, then put every extra dollar toward the debt with the highest interest rate. This is mathematically optimal — you pay the least total interest over time. Best if you're disciplined and want to minimize the total cost of your debt.
Tip: If your interest rates are similar across debts, Snowball is usually the better choice because the motivational boost of clearing debts quickly keeps you on track. If one debt has a significantly higher rate, Avalanche saves you more money.
Debt-Free Date Projection
Based on your current balances, interest rates, and monthly payment amounts, AeroLedger projects when you'll be completely debt-free. This date updates automatically as you record payments or adjust your strategy. It gives you a clear finish line to work toward.
Recording Payments
Each time you make a payment on a debt, record it in AeroLedger. The remaining balance updates automatically, your payment history is tracked, and your debt-free date recalculates. This keeps your financial picture accurate and up to date.
Setting Savings Goals
Open the Goals tab and tap Add Goal to create a savings target. For each goal, set:
- Goal name — what you're saving for (emergency fund, vacation, type rating, etc.)
- Target amount — how much you need to save
- Target date — when you want to reach the goal
Tracking Goal Progress
AeroLedger shows your progress toward each goal with a visual progress ring. You can see at a glance how close you are to your target.
Based on your target amount and deadline, AeroLedger calculates a monthly contribution guidance — the amount you need to save each month to reach your goal on time. This helps you plan your budget around your savings targets.
Tip: Record contributions as you make them to keep your progress accurate. Even small, consistent contributions add up — the progress ring is a great motivator to stay on track.