Tracking loans and liabilities

Add mortgages, loans and other debts to Oinkly for an honest net worth — including money you owe and money you're owed, repayment types and overpayments. A Big Pig feature.

Debts are part of the picture, and leaving them out flatters your net worth. Oinkly tracks what you owe — and, unusually, what you're owed too. Loans and liabilities are Big Pig features.

Two kinds of loan

When you add a loan, the first choice is its direction:

Borrowing — money you owe, like a car loan. It lowers your net worth, which keeps the picture honest.
Lending — money you've lent and are owed back. It counts towards your net worth as an asset.

Setting the direction tells Oinkly how to track the balance and interest, so get this right first — it's fixed once saved, though you can switch it later through a dedicated option if your situation changes.

The loan fields

Principal — the original amount, before interest.
Repayment type — Amortising pays a bit of the debt with each payment; Interest Only pays just the interest; Bullet repays the whole lot at the end; Manual is ad-hoc.
Payment frequency and term — how often payments are due, and how long until it's fully repaid.
Interest rate / APR — the yearly cost; APR includes fees as well as interest, so it's the fuller figure.

Mortgages and other secured debts

A liability can be secured against an asset — a mortgage against a house, for instance. Link the two and Oinkly deducts the debt from that asset's value, so the property adds only its equity to your net worth. You can allocate a debt across assets by percentage where it's split.

Useful extras

The overpayment simulator shows what paying extra would do — how much interest you'd save and how much sooner the loan would clear.
The settlement calculator works out the full amount to clear a loan on a chosen date, including any early repayment charge.
The payment schedule lays out each instalment; "accruing" means interest is building on an instalment that isn't due yet.

Good to know

You can split a payment into its parts — how much clears the debt (principal) versus interest, fees or penalties — for a precise record. A loan marked defaulted is one where payments have been missed beyond the agreed terms.