Debt Payoff goals help you organize, visualize, and accelerate your journey to becoming debt-free. By mapping your interest rates, minimum payments, and actual historical transactions, Moza models a precise payoff timeline and lets you explore strategy adjustments.
Common Questions
How is a Debt Payoff goal different from a Savings Goal?
Savings goals accumulate cash for the future. Debt payoff goals represent outstanding liabilities (loans, mortgages, credit cards). Payments logged toward a debt payoff goal are actual transactions that reduce the liability balance in your ledger.
What interest rate types can I track?
Moza supports Fixed Rate (constant APR), Variable Rate (a schedule of rate periods with start and end months), and Hybrid Fixed -> Variable (a fixed introductory rate transitioning to a variable schedule).
How does the Payoff Scenario Planner work?
On the debt goal details page, the 'Explore payoff options' panel lets you simulate adding extra monthly payments or one-time lump sums. Moza recalculates your payoff curve instantly to show your new payoff date, months saved, and total interest avoided.
Why does Moza require a source account when paying debt?
Because paying debt moves real money, each payment is logged as an actual transaction. You choose the cash account you are paying from at the time of payment.