Author Topic: Debt reduction worksheet for Excel  (Read 2887 times)

Offline T Kehl

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Debt reduction worksheet for Excel
« on: June 24, 2009, 05:58:07 PM »
My wife and I used this spreadsheet to figure out when we would be debt free.  We keep an original copy from where we started to measure our goals, a "current" copy to give status of where we are, and a what if copy for "what if I took a 3rd job?" or "what if we sold the house?".

Payments extra targeted payments can be arranged in snowball, highest rate, or custom.  Total interest paid will also be calculated for comparison.

http://download.cnet.com/Debt-Reduction-Calculator-for-Excel/3000-2057_4-10770226.html?tag=rbxcrdl1

We were pretty dumb with credit, but in Jan of 2014 at current rates, we will have no debt.  Currently:  two credit cars paid off (as of July 4th).  Two more credit cards, two student loans, and a mortgage to go.

Offline “Mark”

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Re: Debt reduction worksheet for Excel
« Reply #1 on: June 24, 2009, 06:14:51 PM »
Here is a website I've been using: http://www.webcalcsolutions.com/Debt-Calculators/Debt-Elimination.asp

You can't save with it, but it's the best website I've found so far.

Offline JakeRyan

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Re: Debt reduction worksheet for Excel
« Reply #2 on: June 27, 2009, 04:08:50 AM »
Cool thanks for the links.

Offline fngrlickingood

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Re: Debt reduction worksheet for Excel
« Reply #3 on: July 06, 2009, 05:47:51 PM »
twk, great post.

i use a similar spreadsheet to track all my spending, debt, etc. i set it up to track what money i could have left over at the end of the month and how i could apply that to existing debt. being aware of where my money goes every month is amazing. i have been using it for nearly 3 years now and it has helped me crawl out of nearly $30,000 in credit card debt not to mention helped me reduce my spending on crap i dont need. i always try and think "needs vs wants" when i shop for everything from household supplies to groceries... sometimes it's hard to say no to things and i still have a long way to go to be debt free from my mortgage, etc. but it's very nice being able to track and see how far i've come and where i'm going. i know several people who were in debt like me and just went bankrupt to make it go away but i am very proud of myself that i have honored my commitments and continue to pay down my debt little by little each month.