Loan Tracking
Track every loan. Watch the balance shrink.
Bring your mortgage, car loan, student loans, and more into one place. See payoff progress, split principal from interest, and know exactly where you stand, for free.
All your debt in one place
Stop guessing what you owe and how fast it is shrinking.
Debt is easy to lose track of when it is scattered across different lenders and statements. FreeBudget pulls your balances, interest rates, monthly payments, and payoff progress into one view, so you always know how much you owe and how quickly you are paying it down.
Link a loan through bank syncing to keep its balance up to date automatically, or add one manually for private lenders and accounts you would rather not connect. When you record a payment, FreeBudget splits it between principal, interest, and any fees, so only what actually reduces your balance counts toward payoff.
Every loan also feeds into your net worth as a liability, and recurring payments can be logged automatically with recurring schedules. Most apps charge for tools like this. In FreeBudget, loan tracking is free.
Everything you need to pay it down
Linked or Manual Loans
Sync mortgages, car loans, and student loans automatically through Plaid, or add private loans by hand. Either way, every balance lives in one place.
Principal vs. Interest
Split every payment between principal, interest, and fees. Only principal reduces your balance, so your payoff progress stays accurate and the true cost of borrowing is always clear.
Loan Summary Dashboard
A dedicated widget shows your total outstanding debt, per-loan payoff bars, monthly payments, estimated interest, and your next due date at a glance.
Recurring Payments & Templates
Set up a recurring payment schedule and save reusable payment templates so logging each month takes seconds. Set preferred principal and interest budget categories once.
Watch the Balance Shrink
Track payoff progress over time and mark a loan as paid off when you cross the finish line. FreeBudget records the payoff date automatically.
Built Into Net Worth
Loans count as liabilities, and every payment you log updates your historical net worth. As your debt shrinks, you can see your overall financial position improve over time.
Frequently asked questions
What kinds of loans can I track?
Mortgages, car loans, student loans, personal loans, and lines of credit. You can link them through Plaid for automatic balance updates, or add any loan manually if you would rather not connect it, which is handy for private lenders or loans from family.
How does FreeBudget calculate my payoff progress?
Only the principal portion of a payment reduces your loan balance. Interest and fees are tracked separately so you can see the true cost of borrowing without distorting how much you actually owe. That keeps your payoff bars and projected balance accurate.
Do loan payments show up in my budget and transactions?
Yes. Every payment appears as a real transaction in the account it came from, labeled and filterable by component, so you can see how much went to principal versus interest. You can also set preferred budget categories for each so payments flow into your budget automatically.
How is loan tracking different from net worth tracking?
Net worth shows your total financial position by combining everything you own and owe. Loan tracking goes deeper on the debt side: it breaks down each loan, splits principal from interest, tracks monthly payments, and shows your payoff progress. The two work together, and recorded loan payments update your net worth over time.
Is loan tracking really free?
Yes. Loan tracking is included at no cost, just like the rest of FreeBudget. Many budgeting apps put debt and loan tools behind a paid plan. If you choose to link a loan through Plaid, a small per-account fee applies to help cover our costs, but manual loans are always free.
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