Debts in MyLife

Keep everything you owe and everything owed to you in one place: balance, payment history, payment schedule and reminders. The money shows up on your account right away.

6 min read
Contents
Step 1

Two kinds of debts

You open the section from Finance: the Debts button on iPhone and Android, the sidebar on iPad, a menu item in the web app.

🫴

I owe

You borrowed from a friend, took an installment plan or a loan. You can set a payment schedule.

Take moreGive away
🤲

Owed to me

You lent money to someone and are waiting to get it back.

Give moreReturned

You pick the kind when you create a debt, and it can't be changed later.

Step 2

Adding a debt

Tap +, pick the kind and enter the amount. Fill in the rest only if you need it.

  • 💰

    Amount and account

    With an account, the currency comes from it. Without one, pick the currency yourself.

  • 👤

    Contact

    “Who do I owe” or “Who owes me”: a name or a phone number. On a phone you can pick someone from your contacts, and the card gets a call button.

  • 📅

    Start date and due date

    The due date is optional. It drives the “Return tomorrow” and “Expired” statuses.

  • 🔁

    Payments

    Payment schedule, “I owe” only. More on it below.

  • 🔔

    Reminder

    A notification when it's time to pay back.

    PRO
  • 🧭

    Life area and note

    The life area field shows up if the Life Areas section is on.

Step 3

Linking to an account

Pick an account, and every move on the debt will change its balance. Without an account, the debt is tracked separately from your wallet.

🫴

I owe

Creating the debt and “Take more” record income to the account, “Give away” records an expense from it.

🤲

Owed to me

Creating the debt and “Give more” record an expense, “Returned” records income.

  • The category of these transactions is a system one: “Debts” 💸. The note holds the person's name.
  • Analytics leaves debt transactions out by default, so a loan doesn't look like earnings. Turn them on with the “Debts” filter.
  • The link works one way: change the amount in the debt itself, and the transaction updates too. Editing or deleting the transaction in Finance doesn't affect the debt.
💡
Link a credit card or a store installment plan to the account you pay from: the debt balance and the money on the account will match.
Step 4

Payments and balance

Open a debt: the contact and balance are at the top, the full history of moves is below.

  • Balance: everything you took or gave, minus everything paid back. The bar shows how much is already repaid.
  • Buttons: “Take more” and “Give away” for “I owe”, “Give more” and “Returned” for “Owed to me”. Each transaction gets an amount, date and note.
  • History: newest first. Increases on the left, repayments on the right. The bottom row is the original amount.
  • You can fix a transaction by tapping it or delete it with the trash icon, the app will ask you to confirm.
  • When the balance hits zero, the debt closes and moves to the archive.
Debt to Andrew Smith: $1,000 left, 50% repaid, payments on the 1st, history: borrowed $2,000, paid back $600 and $400
Debt screen
Step 5

Payment schedule and reminders

For “I owe” you can set how often you pay. The schedule doesn't create payments by itself: it tells you when to pay.

No repeatEvery dayEvery week day of the weekEvery month day 1–31
  • With a schedule, the reminder comes on every payment day, you only pick the time.
  • Without a schedule, it comes once, on the date and time you choose. “Owed to me” only has one-time reminders.
  • Notification text: “Don't forget to repay the debt: Andrew” or “You should get your debt repaid: Andrew”. Tapping it opens that debt.
  • The schedule shows as a badge on the debt screen, appears in the morning brief on Main and fills in the date in your Budget Plan.
⭐
Debt reminders are part of PRO. The web app doesn't have them: notifications come to your phone.
Step 6

List, statuses and archive

At the top there's a switch between “I owe”, “Owed to me” and “Archive” with counters. The app remembers the open tab.

  • “Total sum” appears when you have more than one active debt, with a bar for overall repayment.
  • Card: contact, life area, status and a large balance. If there's a phone number, there's a call button.
  • Statuses: “Until November 1, 2026”, “Return today”, “Return tomorrow”, “Expired by N days”, “No deadline”, “Debt has been repaid”.
  • Archive collects closed debts of both kinds. Add a transaction, and the debt becomes active again.
The “I owe” list: total $2,900 and three debts: to Mom, to Andrew and on a credit card
The “I owe” list
💻
In the web app, a debt with a schedule has a Schedule tab with upcoming payments, and the nearest and overdue debts show up in the Coming up block on the Overview.
Step 7

Editing and deleting

“Edit” on the debt screen opens the same form.

  • A new amount changes the first history row and its transaction on the account.
  • A new account moves only the original transaction. Past payments stay on the old account.
  • Deleting a debt erases its history, but the transactions on the account stay: the balance doesn't change. If you don't need them, delete them in Finance.
Step 9

Limits and PRO

Account linking, history, payment schedule and archive are free.

  • 🤝

    Debts

    All debts count, including archived ones. Deleted ones don't.

    4 for free
  • 🔔

    Reminders

    A notification about a payment or a return.

    PRO
FAQ

FAQ

Do I have to link a debt to an account?
No. Without an account, the debt lives on its own and doesn't touch your balance. Link one when the money actually went through your account.
Why doesn't a loan show up in income analytics?
Transactions in the “Debts” category are left out of analytics by default, otherwise a loan would look like earnings. Turn them on with the “Debts” filter.
I changed a transaction in Finance, but the debt didn't change
The link works from the debt to the wallet. Change the amount in the debt itself or in its history, and the transaction updates too.
Does the payment schedule create payments by itself?
No. The schedule reminds you of the payment day and suggests it in your plan and morning brief. Mark the payment itself with the “Give away” button.
What happens to my balance if I delete a debt?
Nothing: the transactions on the account stay. Only the debt's history is deleted. Remove unneeded transactions in Finance.
How many debts can I add for free?
Four, including archived ones. With PRO there's no limit, and you get reminders.
Can I switch “I owe” to “Owed to me”?
No, you pick the kind when you create a debt. Delete it and create a new one of the right kind.
Where did my debt go?
Most likely its balance hit zero and it moved to the “Archive”. Add a transaction, and it becomes active again.
Read next
FinanceAccounts and categories Budget PlanLoans and debts in your plan SubscriptionsRecurring payments

All your debts in one list

Add your most important debt, link an account and set a payment schedule to watch the balance go down.

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