Just a bunch of knuckleheads from Maine

Team Members

Launch Site

Moneycat

Moneycat generates a custom, optimized plan for paying off debts.

V800 moneycat

Description

Moneycat helps you free yourself from debt. Enter your debts, generate a custom, optimized plan for paying them off, see recommended payment amounts, and track your progress with charts and figures.

Instructions

How do I get started?

  • Navigate to https://hackbit.github.io/reactriot2018-moneycat/ and you'll land on the Dashboard page, with some basic instructions.
  • Navigate to the Debts page using the link in the top navigation bar.
  • Click the "Create a debt" button to add a debt you currently hold, such as a student loan, car loan, mortgage, etc. We recommend setting the starting balance to the debt's current balance, and the start date to today.
  • When you've finished adding the debts you want to track, navigate to the Plan page using the link in the top navigation bar.
  • Fill in the amount of money you estimate you'll be able to contribute per month toward paying down your debts (beyond the minimum payments). If you don't think you can spare any money, enter a penny and the app will still be able to generate an optimal payoff plan.
  • Click Next. If you added multiple debts, the app will calculate the order in which to pay them off in order to save you the most money (highest interest rate first, and then smaller balances). If you'd prefer to pay off in a different order, you can rearrange the debts by clicking and dragging them.
  • Click Next and the app will project the effects of your plan: how much sooner you will be debt-free, and how much money you will save, compared to making only minimum payments. Feel free to play around with different payment amounts or debt payoff orders to see their effects on the projected date and savings.
  • Navigate back to the Dashboard page using the link in the top navigation bar. On this page you can now view a chart of your progress and projected future. In the right column (or below the chart on a smaller device) you'll find a list of recent and upcoming recommended payment amounts toward your debts based on the plan you created. You'll also find the projected payoff date for each debt.

I didn't set any extra money to go toward debt payoff. Why does the plan still say it's saving me money?

Moneycat's plans project that as you pay off individual debts and no longer have to pay the minimum payment, that amount of money is available to roll into the next selected debt.

The minimum payment on one of my debts changed. How do I reflect this?

You can edit debts after you create them as well as create "revisions" that start on defined effective dates. On the Debts page, click on a debt to expand it, then click Revise to open a form allowing you to indicate that the minimum payment (or other property) of the debt changes on a certain date.

I had some extra cash and paid down one of my debts beyond what was planned. How do I reflect this?

Add a revision to the debt modifying its balance, and you will see the projection adjust to the new figure.

Will my data be saved? Where?

Your data is stored in localStorage on your browser. It will persist on that browser across visits, but will not persist across devices. We provide a Reset button in the top right corner for deleting your data from the browser's storage if desired.

I ran into a problem!

Please get in touch with one of us and we will be happy to try to help. We can't fix any bugs now that the competition has ended, but we may be able to identify and correct problems in your local stored data so you don't have to reset and lose what you've entered.

I paid off all my debts. What do I do now?

Congratulations! The world is your oyster now. I don't know, maybe mine some crypto?

What does debt reduction have to do with cats?

One thing you need to know about cats is they have a way of insinuating themselves into places they don't belong.

Built With

Feedback / Ratings (5)

All Feedback