RedZone is a place to track all your debts as you work toward paying them off.
RedZone will allow you to test payoff scenarios to see how long it will take you to pay off all your debts.
It's a play on words. Most are familiar with the football term red zone. It is the 20 yards in front of the end zone. This is where players get excited because it means their about to score - either a touch down or at least a field goal. They essentially become more focused.
Debt Tracker or Debt Snowball might have been a more descriptive term, but I wanted to put a more positive spin on it. Keeping track of our debts and watching our progress as we pay them down will lead us to be more focused.
Our goal is to stay focused, get out of the red and into the black!
Start by adding your debts you want to track. You can edit these debt items as you pay them down each month. You can sort them by dragging & dropping rows in the order you want them.
To see pay off scenarios, click the Show Scenarios button. Optionally, you can add an extra monthly payment amount that will go towards paying down your debts in the snowball scenarios.
Click the name of the pay down scenario to see a detailed payment schedule.
Not at the moment, but that feature is planned.