Managing Liabilities

Adding a liability

Track everything you owe by adding liabilities to your account.

1. Navigate to Wealth

From your dashboard, go to the Wealth section and select the Debt tab.

2. Click Add

Click the + button and fill in the details:

• Name — e.g. "Home Loan", "Visa Card"
• Type — Mortgage, Car Loan, Credit Card, HECS-HELP, Personal Loan, or Other
• Current Balance — how much you currently owe
• Interest Rate — the annual percentage rate (optional)
• Monthly Payment — your regular repayment amount (optional)

3. Link to an asset (optional)

For mortgages, you can link the liability to the property asset it's secured against. This lets you see equity calculations on the asset card.

Liability types

| Type | Common examples | |------|-----------------| | Mortgage | Home loan, investment property loan | | Car Loan | Vehicle financing | | Credit Card | Visa, Mastercard balances | | HECS-HELP | University student loan | | Personal Loan | Unsecured loans | | Investment Loan | Margin lending, share purchase loans | | Business Loan | Working capital, equipment finance | | BNPL | Afterpay, Zip balances |

Repayment types

For mortgages, you can specify whether the loan is:

• Principal & Interest (P&I) — paying down the loan over time
• Interest Only (IO) — only paying interest, balance stays the same

This affects how Frank analyses your debt position and provides recommendations.

Offset accounts

If you have a savings account that offsets a mortgage, you can link it as an offset account. See Offset Accounts for details.

Debt payoff strategies

Frank can help you compare debt repayment strategies:

• Avalanche method — pay off highest interest rate first
• Snowball method — pay off smallest balance first

Ask Frank: "What's the best way to pay off my debts?"