Household loans from the piggy

When the household needs cash before payday, it can now borrow from its own piggy instead of a lender. One member can borrow for themselves, or the household can borrow for an envelope. Another member approves before any cash moves, the total is fixed when it's approved, and every repayment goes back into the piggy. The Privacy Notice is now version 1.1 because it describes these loans. Nobody is asked to agree again.

What's new

Lend from the piggy. Tap the piggy on the table. Under "Feed it" there are two new buttons: "Lend from the piggy" and "Loans".
Two kinds of loan. "Me, to my pocket" puts the cash in your private pocket, and you repay from your pocket. "The household" moves the cash into the envelope you choose, and the household repays from its envelopes.
Another member approves. Every loan starts as a request. The other members see it on the table with a "Review the request" button, and on the Loans screen. One of them taps "Approve and pay out" or "Decline", with a note if they like. You can cancel your own request while it waits. In a household with one member there is no one to ask, so the cash moves when you save.
Interest is up to you, and off by default. A loan is 0% unless you tap "Add interest (optional)". Interest is flat: a percentage of the amount, charged once, and never more than the amount itself. Next to it Dura shows what that is as a yearly rate (APR), and, on a loan to one member, warns you if it's over 5% a year, the limit Zimbabwe's law sets at present for interest on any loan, even between family. It never suggests a rate, and it charges nothing.
The agreement on one card. Every loan shows "Money lent", "Amount paid to borrower" and "Interest rate (flat)" together, then the interest, the total to repay and the monthly payment. The total is fixed. Paying early, skipping a month or a new plan never changes it, and there are no penalties.
Cash and lent out, side by side. The piggy shows its cash and, under it, "Lent out ... coming back". Goals and milestones count the cash only.
Repay when the money comes in. When you cash in, each payment that is due shows as its own row, "Repay piggy" and the loan's name. "Fill to budget" covers these rows first. You can lower or remove a row. You can also tap "Repay" on the loan's page at any time.

How to use it

On the table, tap the piggy, then "Lend from the piggy".
Under "Who is borrowing?" choose "Me, to my pocket" or "The household". For the household, pick the envelope that gets the cash.
Fill in "How much?", "What for? (optional)", "Months to repay" (1 to 60) and "First payment". The first payment can be the next month start at the earliest.
Check the preview: money lent, interest rate, monthly payment and total to repay. Then tap "Ask to borrow".
Another member opens the request from the table, reads it and taps "Approve and pay out" or "Decline". Dura checks again that the piggy has the cash.
Repay at your next cash-in, or with "Repay" on the loan's page. When the loan is paid off, it shows how much interest you paid yourselves instead of paying a lender.

Good to know

You can borrow only what the piggy has in cash, checked when you ask and again when it's approved.
On a loan's page, any member can tap "Skip a month" or "New plan" to move the payments. The other members can tap "Forgive" to let some or all of what's left go: anyone but the borrower, or for a household loan, anyone but the member who asked for it.
Every request, approval, decline, payout, repayment, skip, new plan and forgiveness is in the loan's History, with who did it and when.
Made a mistake? Undo a repayment from the entry list like any entry, and the payment is due again. A payout can be undone only while nothing has been repaid, and that cancels the loan.
Loan payouts and repayments are not spending or income, so your budgets, money in and "saved this month" stay true.
For a personal loan, the other members see the loan, its plan and each repayment, but never your pocket's balance or anything else in it.
Exports include your loans: the CSV has a loans section, and the JSON lists every loan and its plan.
The Privacy Notice is now version 1.1. It adds loans from the piggy to what we collect, who sees it and how long we keep it (sections 1, 2, 4, 5, 6 and 8). Nothing else changed, and nobody is asked to agree again. The Terms of Use stay at version 1.0.
Apps and agents can ask for, repay, skip and reschedule loans with dura loans and the API. Approving, forgiving and choosing a rate are for people to decide, so an agent should leave them to you.

Go deeper

Privacy Notice: section 6 covers who sees a loan, and section 8 how long it is kept.
Terms of Use: section 4 says Dura keeps records and never lends or holds money.
The dura command line: the dura loans commands.
API reference: the loans endpoints.
Private pockets and allowances: where a personal loan lands.

Frequently asked questions

Can the other members see my private pocket if I borrow?

No. They see the loan, its plan and each repayment, for example that Rudo repaid $50 for the phone, payment 4 of 12. They never see your pocket's balance or anything else in it.

Do I have to agree to anything again?

No. The Privacy Notice is now version 1.1 because it describes loans from the piggy, but nobody is asked to agree again. Your agreement and your AI setting stay as they are.