This spreadsheet is a big obsession with me. When I've paid a big chunk of debt I gaze with pleasure at the diminished numbers (and number of debts) on it; some days when I feel like we're not making enough progress, I stare at the numbers despairingly as if willing them to shrink under my gaze. (Hasn't worked yet, unfortunately.) It's a snapshot of our current debt. First I'll show you the whole craziness, and then I'll break it out into closeups of the various components. (I tinker around a lot with this one, as you'll see.)
The most important part, which was the only info originally intended, is the debt amount, broken out by category and by lender:
Then I have all these other bits of information I've wanted to know over the years and have added on: the minimum payment I need to make on each one, the minimum amount of principal that gets paid off each month, years and months it will take me to pay each off (plus how long it would take to pay off the total, at the current minimum pace plus if I paid $1000 extra or $2000 extra per month--wishful thinking right now), interest rates, and what month and year it would be paid off under various scenarios.
Then I added this widget a few months ago, which uses the total minimum payment and the total minimum principal to do a little calculation of what percentage of the money goes to interest and fees instead of principal:
I feel a little weird posting this because probably not even my family knows just how much I tinker with our finances. When I have slow days at work and not much actual stuff happening with the finances, these are the kinds of things I end up doing sometimes.
Personal finance tools: No. 2 - Current Debt
May 4th, 2009 at 08:22 pm
May 4th, 2009 at 10:25 pm 1241475919
May 5th, 2009 at 12:23 am 1241483008
By the way, I'm self-taught in Excel, and I find the formulas are pretty easy to figure out. If you are trying to do something similar and having a hard time, let me know and I can tell you the formulas I used.
Another tip: I keep the spreadsheets in a free Google Documents account, so I can check them from any computer that has Internet access.
May 5th, 2009 at 12:44 am 1241484280
May 5th, 2009 at 12:57 am 1241485031
i do stuff like that too, but a lot of the time get disheartened or bored and stop halfway through, then delete it. or i can't find an *exact* number of something, so i see no point in doing the thing at all, then delete it.
May 5th, 2009 at 03:22 am 1241493746
L, yep, I was going to post more of my spreadsheets tomorrow. This one and the Number Crunch one are the biggies for me, but I have a couple of others that are very useful as well.
May 5th, 2009 at 03:56 am 1241495777
May 6th, 2009 at 05:02 pm 1241629359