To the good people at Goodbudget,
I’m at a bit of a loss when it comes to managing ongoing debt payments. Each month I make a payment on my student debt of roughly $250. I know how to add a debt transaction, but I’m never sure what to put in the Principal, Interest, and Fees fields (see below).
The other thing I’m not sure how to manage is the interest that accrues. For instance, right now my student loan interest rate is 2.45% and the daily interest charge is $0.37. How do I keep my loan up to date not only with my payments but with the accrued interest?
Any guidance you can provide is appreciated. I love Goodbudget otherwise; I’m just having a tough time getting my head around this subject!