Variable Extra Payments

Variable extra payments are possible only with the Debt Reduction Schedule plan. Use this feature to apply extra payments toward debt repayment. Payments may be entered every month or every few months. The payment amounts may be the same each time or they can vary.
 
This option can be very useful in situations of knowing in advance that extra money is coming in the future and that some of it should be applied toward repaying debt.
 
For example, bi-weekly paychecks result in two extra paychecks per year, compared with those paid twice a month. Assign a portion of both checks to pay down the debts. Or apply quarterly bonuses and Christmas bonuses toward debt payoff.
 

Debt Analyzer > Variable Payment button 
 

Payment
A list of extra payments may be entered for each month in the life of the debt reduction plan, up to 30 years (360 months). The month is listed to the left of the payment amount. 
 

Edit Menu

Duplicate
The Duplicate menu item or speed button duplicates the monthly value where the cursor resides and places it into the next monthly payment. The cursor advances to the next monthly payment, allowing for quick entry of the same value for multiple months by repeatedly clicking on the Duplicate button. 
    
Set Range
Enter ranges of extra payments by using the Set Range Of Payments window. Choose the starting and ending month as well as the frequency of months to skip. 
 
For example, to automatically fill in extra payments based on a biweekly income (2 extra paychecks per year),  set the Start Month to 1, the End Month to 360, and the Set every xx months value to 6. Or to schedule extra payments based on a yearly bonus, change the Set every xx months value to 12.
 

Debt Analyzer > Variable Payment button > Tools > Set Range

Payment

The Payment is the amount of money to be applied towards the extra payments.  

Start Month

The Start Month is the first month that the extra payment is applied.

End Month

The End Month marks the last month that the extra payment is applied.

Set every xx month(s)

Specify to make payments every month, every two months or any frequency up to 12 months.

Set Defaults
The Set Defaults menu item saves the current set of extra payments as default values that can be recalled later. This can be helpful when preparing multiple debt plans for the same person. Use this feature to maintain their extra payment information as a default while working on the different debt plans. 
   
Load Defaults
The Load Defaults menu item loads in values that were previously saved as defaults. This can be helpful when preparing multiple debt plans for the same person. Use this feature to maintain their extra payment information as a default while working on the different debt plans. 
 
Clear All Values
The Clear All Values menu item sets all extra payment values to zero.