Money Control - Loan Tracker
Can Money Control - Loan Tracker show me how much of my payment goes to interest versus principal?
Yes, the app includes an Amortization Schedule that breaks down exactly how much of each payment goes toward interest and principal. For example, one user saw that their minimum payment only chipped away $50 from a $28,000 loan while $180 went to interest, which motivated them to pay extra.
Does the app let me set payment reminders and mark payments as paid?
Absolutely. You can set custom reminders for each loan, like a notification three days before your credit card payment is due. When the alert pops up, the app shows the exact amount due and a button to mark it paid, so you don’t have to search through emails or bank apps.
I added a loan but the numbers don’t look right. How can I fix it?
First, double-check the loan amount, interest rate, and term you entered in the Loan Management section. If something is off, you can edit the loan details directly. If the amortization schedule still seems wrong, try deleting the loan and re-adding it with the correct numbers—it only takes about a minute.
The app isn’t showing my payment reminders. What should I do?
Make sure your device’s notification settings allow alerts from Money Control. Also, check that you’ve saved a reminder for each loan inside the app—you can set it for a few days before the due date. If notifications still don’t appear, try restarting the app or reinstalling it, as the app is free and saves your data locally.
How does Money Control compare to a paid app like You Need A Budget (YNAB)?
While YNAB focuses on budgeting and costs around $15 a month, Money Control is completely free and specializes in loan tracking. It offers a Debt Payoff Calculator and amortization schedules that let you see how extra payments move up your payoff date, which is more loan-specific than YNAB’s general envelope budgeting.
