A mortgage is likely the biggest financial commitment you'll ever make. It’s a long-run marathon, so keeping it under control is key to keeping your personal cash flow safe. In Wallet, there are three smart ways to handle your mortgage:
1) Mortgage as a regular expense
This method is for those who want everything on autopilot and want to see how big a "piece of the pie" the mortgage takes from their monthly budget.
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Automation: If you use bank synchronization, Wallet usually recognizes the payment. If not, just set up an Automatic Rule to assign the category for you.
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Planning: Add your mortgage payment to Planned Payments so you always know how much "fun money" you actually have left. (More in: Setting up planned payments)
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Categorization: When entering manually, make sure to use the right category. (More in: All about categories/subcategories)
2) Mortgage as a separate account
Want to watch your "mountain of debt" slowly shrink? Create a manual account for it (banks don't allow automatic sync for mortgages yet).
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Setup: Add Account > Manual Entry > Account Type: Mortgage.
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The Logic: You record your payments as a Transfer from your checking account to this mortgage account. (More in: How to set up transfers)
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Note: This method won't show the payment in your expense charts (technically, a transfer between your own accounts isn't an expense).
3) Combined method (For the detail-oriented)
Do you want to track both your expenses and your decreasing debt at the same time?
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Create an account with an initial negative balance (the total amount owed, including interest).
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Track your monthly payment as an expense (see point 1).
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Once a month, manually adjust the balance on your mortgage account to match reality. (See article: Incorrect balance)
This way, you’ll always see exactly how much is left to pay.