Liabilities
Everything you owe. Simpler than assets — there is only one tracking model — but with a type, a status, and an optional link to an asset.
Fields
Required:
- Name (e.g. "Home mortgage", "Visa — Bank X")
- Category (separate taxonomy from assets; see Categories and groups)
- Amount — the outstanding balance right now
- Currency — can differ from your default
- Type — Loan / Mortgage / Credit Card / Other
- Status — Active / Potential / Paid Off
- Value date — the date the amount is accurate for
Optional:
- Interest rate — percentage, informational only; not used to project future balances
Types
| Type | Typical use |
|---|---|
| Loan | Personal loans, car loans, student loans |
| Mortgage | Real estate loans |
| Credit Card | Revolving credit balances |
| Other | Anything that does not fit the above |
Types are mostly organisational — they control which bucket a liability shows up in on filters and charts.
Statuses
| Status | What it means | Counts toward net worth? |
|---|---|---|
| Active | Current ongoing debt | Yes |
| Potential | Debt you expect but have not yet taken on (loan approved but not drawn, planned mortgage) | No |
| Paid Off | Fully repaid, kept for history | No |
Use Potential when you want to see what your net worth would look like if a planned debt materialised — without having the app count it yet.
Asset-linked liabilities
Some debts exist because of a specific asset. The classic example: you own a house, and your mortgage exists specifically to finance that house.
Finance Hero separates these on the Summary page into two buckets:
- Standalone liabilities — independent of any asset (a personal loan for holiday spending)
- Asset-linked liabilities — debts tied to a specific asset (the mortgage on your house)
The dashboard's breakdown chart and the filter toggles let you view each bucket separately. This makes it easy to read your equity on an asset (asset value − linked liability) rather than flat "assets − liabilities".
History
Liabilities track history the same way balance-based assets do. Open the History modal on any liability row to:
- See a chart of the outstanding balance over time — useful for watching a mortgage or loan paydown
- Add back-dated entries (e.g. "this is what the mortgage balance was at the end of 2024")
- Edit or delete past entries (the most recent entry is locked, as with assets)
Interest rate
Recorded per liability as a percentage. Currently informational only — the app does not generate amortisation schedules or project future balances. If you want to track paydown you update the balance manually (either on the main form or by adding a historical entry).