Debt calculator

I'm not sure if this has been posted somewhere on this forum before, but I found this last year, and found it incredibly useful in mapping out a debt repayment plan. The sheet lets you play with scenarios (avalanche, snowball, stair-stepper, etc.) to see how they will impact the amount of interest and/or total time to debt paydown: 

https://www.vertex42.com/Calculators/debt-reduction-calculator.html.

Hope it helps someone else.

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    • Khaki Storm
    • YNAB book topics online: https://support.youneedabudget.com/r/q5w48j
    • Khaki_Storm.1
    • 1 yr ago
    • 1
    • Reported - view

    That looks cool! However, I don't think I'd pay any money to extend beyond the free sample. 

    Like 1
    • Ben Khaki Storm I'm "fortunate" in that I don't have more than 10 lines of debt, so I haven't had to move beyond the free version, but I don't think I'd pay for it either. But I *greatly* appreciate the free version!

      Like 1
  • Undebt.it is a free web based version of this as well. Would recommend that as well.

    Like 4
  • Looks like a pretty straight forward excel model. There are lots of free copies on the web that are extendable and start out with 20 creditors instead of 10.  Here is one example I found.  Looks like a pretty close copy, but I haven't dug into the formulas on either of them. 

    www.wealth-formula.com/downloads/files/LaserDebtElimination.xls

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      • adriana01
      • adriana01
      • 1 yr ago
      • Reported - view

      Louie That spreadsheet looks like a plagarized copy of Vertex42's work. It looks like they took the .xls extended version from Vertex42 & removed the identifying images to present it as their own work. I purchased the extended version from Vertex42 a month or so ago (so I can compare with the actual extended version) & the language on the side is identical except for removing the links to Vertex42. The sidebar information is the giveaway that it was copied, as different advisors will have different tips or use slightly different descriptions of different strategies

      The .xlsx version from Vertex42 has a tab for a chart & moved the text to a help tab.

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  • This template is actually what I've been using for a year or so and what I encourage our FPU classes to use. I love that you can play a little "what if" with the scenarios and see how it changes the interest paid and the payoff dates.

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