(On mobile.....sorry for format issues)
EDIT: There’s templates for Google Sheets and OpenOffice too!
Over the past 10 years I got myself into ~$17,000 in credit card debt across 5 different cards, plus $51,000 in federal student loans and (at time of purchase) a $13,000 car loan.
At a certain point I became the kind of person who spent their free time researching methods/calculators/advice on how to pay off debt as efficiently as possible because it was legitimately fun to me. It became a game and I wanted to win, with the grand prize being able to start saving for a down payment on a house. After months of looking for a free, comprehensive template to use for Excel (not proficient enough to make my own) I found it:
www.vertex42.com/Calculators/debt-reduction-calculator.html
It’s easy, user friendly, has a great quick start video on the site, & features multiple strategies on how to repay your debts (I will note that I haven’t input my student loans, just my personal debts, so I don’t know if this template is right for them. Uncle Sam can wait....) It has every single feature I could ask for, plus some I didn’t even know I wanted.
I have seen a lot of debt management tools in the past year or two, and in my opinion this one is the absolute best for laypeople like me. I’ve been able to stick to the payment plan it provides for 10 months now, and I’m actually 2 months ahead on my payoff schedule due to small additions to my snowball. It’s fun to sip a glass of wine and see how an extra $10 here, $20 there can lessen the amount of time (& total interest!) it will take to pay everything off.
I hope this tool helps someone as much as it’s helped me. I can’t wait for July, 2021 to be (mostly) debt free!!!!
Submitted April 09, 2019 at 09:27PM by kimjohnil http://bit.ly/2IpB6aL
