Payback Plan

A section of your income plan dedicated to prioritizing and accelerating debt payoff. Money it directs flows into the Payback Pouch, and it calculates how much to pay each debt to best accomplish your goals.

The Payback Plan is an optional feature you turn on. When enabled, it unlocks:

• Prioritized debts — set the order you’ll pay down your debts.
• Debt strategy — choose how that order is decided:
  • Snowball — smallest balance first (momentum through quick wins)
  • Avalanche — highest interest rate first (minimizes total interest paid)
  • Manual — your own ordering (sort the list yourself)
• Planned amounts — set how much to pay each debt per month. Every debt except your top priority pays exactly its planned amount; the top-priority debt gets its planned amount plus any extra sitting in the Payback Pouch — so all of your acceleration money lands on the #1 debt.
• Minimum payments in your plan — the Payback Pouch’s funding now accounts for each debt’s minimum payment in your income plan, on top of any extra you add.
• Suggested payment cards — Roo suggests how much to pay toward each debt.
• Loans in the plan — a loan can be included in the Payback Plan and paid from the Payback Pouch; otherwise, track it as a bill (bill item).
• Goals feed in — money you accelerate toward payoff feeds into the plan.
• Cleanup suggestions — Roo suggests when to remove an item from your plan.
• Payoff celebration — when a debt is cleared, Roo celebrates the milestone and records it so you can see your progress over time.
• Estimated debt-free dates — see when each debt (and your whole plan) will be paid off.
• Estimated payback schedule — a month-by-month table so you can see the math.