Undebt.it and YNAB

I've got YNAB set up and I'm experimenting with Undebt.it. Here's my configuration, just want to make sure this is all making sense.

I have a number of student loans (mine and my wife's) on direct import from Navient. I have a personal loan that's manually tracked because YNAB doesn't talk to that institution.

When I make payments to either the student loans or the personal loans, I debit it from my bank account and cite the appropriate category, it's not a transfer.  When Navient imports the payment, it records the P&I as one payment.  I do a manual transaction for 'interest paid' at the end of the month so it actually matches my real balance.  For my personal loan, I just record the principal reduction as a manual transaction.

Undebt.it is mapped to my YNAB accounts. My concern here is that they're basing their payoff calculations on P&I and so, already, my personal loan won't reflect that and my manual adjustments to my loan payments won't reflect that either.

Should I be recording everything as P&I split transactions? Will that work properly? Or just surrender the idea of syncing YNAB and Undebt.it properly and just manually record payments in Undebt.it?

 

Thanks!

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  • Personally I just enter the transactions in Undebt.it manually for my loans. I have it linked to YNAB, but only have it looking at the credit cards (but not tracking them as debts since they get paid in full every month) so it can do the credit utilization calculations.

    My Navient loan is handled basically the same way in YNAB, but I only reconcile it every few month to account for interest, and when I do I update Undebt.it at the same time so both are showing the correct current loan amount.

    Also I'm doing (usually) 2 payments per month on the student loan - the autopay for the required payment, then a separate manual payment for any extra.

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      • PugsBugs
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      • trigger207
      • 1 yr ago
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      TechieM2 Thanks! I'm still totally new to Undebt.it. Still not sure if it's going to be the best tool as a YNAB companion, but that does seem to make sense to me.

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      • TechieM2
      • IT Professional and General Geek
      • techiem2
      • 1 yr ago
      • 1
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      PugsBugs Really it's not even needed if things are all setup nicely in YNAB and budgeted well, but I like having the stats and projections and such, as well as being able to easily see what changing my debt payment amount would do to my debt finishing dates.

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      • PugsBugs
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      • trigger207
      • 1 yr ago
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      TechieM2 yeah. I am looking at it as guidance, snowball strategy building and scenario modeling. Hopefully also a tool of encouragement to speed up my debt payoff. 

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      • PugsBugs
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      • trigger207
      • 1 yr ago
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      TechieM2 So to clarify, your "link to YNAB" is actually account mapping?  Because I saw a thing on the Undebit page about how you should either sync from YNAB through account mapping or do manual input but not both. 

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      • TechieM2
      • IT Professional and General Geek
      • techiem2
      • 1 yr ago
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      PugsBugs Yeah I only do mapping of the credit cards accounts, but I have them off as debt accounts to track in Undebt.it. So it will look at them to calculate credit utilization and such, but doesn't count them in the debt plan. The 2 loans are completely manual in undebt.it. If I didn't want to see those stats, I wouldn't do any mapping/connect to YNAB at all for it since all my debt handling in it is manual.

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