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.
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.
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)
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).
Setup: Add Account > Manual Entry > Account Type: Mortgage.
The Logic: You record your payments as a Transfer from your checking account to this mortgage account. (More in: How to set up transfers)
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?
Create an account with an initial negative balance (the total amount owed, including interest).
Track your monthly payment as an expense (see point 1).
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.