Congratulations on paying off a debt! 🎉 Now it's time to update your Debt Snowball Tracker to reflect your progress and keep the momentum going.
How to Mark a Debt as Paid Off
Follow these steps to update your debt snowball:
- Visit the Baby Step 2 Debt Snowball Tracker and sign in to your account.
- Click the debt you've paid off.
- Change the balance to $0 or check the box labeled This debt is paid off.
- Click Update to save your changes.
Once updated, the amount you were paying toward that debt will automatically be added to the Extra Monthly Payment field at the top of the page.
This allows you to roll that payment into your next debt and keep your debt snowball moving!
What Happens to Paid-Off Debts in EveryDollar?
If your EveryDollar account is synced with your Baby Steps Tracker, paid-off debts will automatically be removed from your budget when you:
- Create a new month's budget in EveryDollar.
- Reset your current month's budget.
Please note: Your paid-off debt won't disappear from your existing budget immediately unless you reset the current month's budget.