Debt

In Exirio's data model, Debt represents financial obligations that you owe to creditors. Tracking debt is essential for understanding your complete financial picture and calculating your true net worth. Exirio provides comprehensive tools for monitoring and managing various types of debt.

Types of Debt

Exirio allows you to track multiple types of debt, including:

• Mortgages: Home loans and property-related financing
• Personal Loans: Unsecured loans from banks or other financial institutions
• Student Loans: Education-related debt
• Auto Loans: Vehicle financing
• Credit Card Debt: Revolving credit balances
• Business Loans: Debt related to business operations
• Lines of Credit: Flexible borrowing arrangements

Debt Attributes

Each debt in Exirio is tracked with the following key attributes:

• Principal Amount: The original borrowed amount
• Current Balance: The remaining amount to be repaid
• Interest Rate: The cost of borrowing, expressed as a percentage
• Term: The duration of the loan
• Payment Schedule: Frequency and amount of regular payments
• Start Date: When the debt was originated
• Maturity Date: When the debt is scheduled to be fully repaid

Mortgage Tracking

Mortgages receive special treatment in Exirio due to their connection to real estate investments:

• Automatic Amortization: Exirio calculates the principal and interest components of each payment
• Property Linkage: Mortgages can be linked to specific real estate holdings
• Equity Calculation: The system automatically calculates your equity position
• Investment Performance: Mortgage costs are factored into real estate investment returns

Debt Management

Exirio provides several tools for managing and analyzing your debt:

• Payment Tracking: Record and monitor regular payments and extra principal payments
• Balance Updates: Automatically or manually update outstanding balances
• Debt-to-Asset Ratio: Calculate and monitor your leverage
• Interest Expense Analysis: Track the cost of your debt over time
• Payoff Projections: Visualize debt reduction over the loan term

For more detailed information on managing specific types of debt, please refer to the Mortgage section or the Loans article in the Glossary.