Debt Sucks Spreadsheet
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DebtsPriority to Pay
Starting Balance
Interest Rate
**PLEASE READ: Create a copy or download this spreadsheet so you can edit your own version**
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AMEX2$5,000.0010.00%Step 1: Enter each of your debts, their current balances, interest rates and prioritize them according to how quickly you want to pay them off in cells A2 through D6
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Citi Card1$3,000.0012.00%Step 2: Create a Debt Grid for each of your debts and enter the starting balance (ex. Cell 15C)
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Student Loan3$25,000.005.00%Step 3: Adjust the monthly payments under "Amount Paid" column until you can see how many months of payments will get you to a $0 Balance.
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$XXXStep 4: Adjust the interest for each balance by changing the formula to your interest rate (ex. Cell 16D formula is =(A16-A15)*(.1/365)*C15+C16) You will want to change the pink portion to whatevery your rate is. If your rate is 5% you will change it to .05/365.
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$XXXStep 5: As you make actual payments, update the Amount Paid column accordingly so you can see how it affects your payoff schedule.
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Total Starting Debt$33,000.00Payment made
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Final Payment
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PAID OFF!
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AMEX - EXAMPLE DEBT GRID
Citi CardStudent Loan
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DateAmount PaidBalanceBalance Plus InterestDateAmount PaidBalanceBalance Plus InterestDateAmount PaidBalanceBalance Plus Interest
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1/1/2018-$5,000.00$5,000.001/1/2018-$3,000.00$3,000.001/1/2018-$25,000.00$25,000.00
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2/1/2018$250.00$4,750.00$4,792.472/1/2018$250.00$2,750.00$2,780.582/1/2018$250.00$24,750.00$24,856.16
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3/1/2018$700.00$4,092.47$4,128.903/1/2018$0.00$2,780.58$2,805.893/1/2018$0.00$24,856.16$24,951.10
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4/1/2018$700.00$3,428.90$3,463.664/1/2018$0.00$2,805.89$2,834.234/1/2018$0.00$24,951.10$25,056.65
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5/1/2018$700.00$2,763.66$2,791.845/1/2018$0.00$2,834.23$2,861.905/1/2018$0.00$25,056.65$25,159.19
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6/1/2018$700.00$2,091.84$2,115.326/1/2018$0.00$2,861.90$2,890.796/1/2018$0.00$25,159.19$25,265.59
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7/1/2018$700.00$1,415.32$1,432.517/1/2018$0.00$2,890.79$2,919.027/1/2018$0.00$25,265.59$25,368.99
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8/1/2018$700.00$732.51$744.538/1/2018$0.00$2,919.02$2,948.488/1/2018$0.00$25,368.99$25,476.28
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9/1/2018$700.00$44.53$50.759/1/2018$0.00$2,948.48$2,978.239/1/2018$0.00$25,476.28$25,584.01
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10/1/2018$360.00-$309.25-$308.8810/1/2018$0.00$2,978.23$3,007.3110/1/2018$0.00$25,584.01$25,688.71
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11/1/2018$0.00$3,007.31$3,037.6611/1/2018$0.00$25,688.71$25,797.35
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12/1/2018$0.00$3,037.66$3,067.3212/1/2018$0.00$25,797.35$25,902.92
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1/1/2019$0.00$3,067.32$3,098.281/1/2019$0.00$25,902.92$26,012.47
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2/1/2019$0.00$3,098.28$3,129.552/1/2019$0.00$26,012.47$26,122.47
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3/1/2019$0.00$3,129.55$3,158.073/1/2019$0.00$26,122.47$26,222.25
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4/1/2019$0.00$3,158.07$3,189.964/1/2019$0.00$26,222.25$26,333.18
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5/1/2019$0.00$3,189.96$3,221.115/1/2019$0.00$26,333.18$26,440.94
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6/1/2019$0.00$3,221.11$3,253.626/1/2019$0.00$26,440.94$26,552.76
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7/1/2019$0.00$3,253.62$3,285.397/1/2019$0.00$26,552.76$26,661.43
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8/1/2019$0.00$3,285.39$3,318.558/1/2019$0.00$26,661.43$26,774.18
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9/1/2019$0.00$3,318.55$3,352.049/1/2019$0.00$26,774.18$26,887.40
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10/1/2019$0.00$3,352.04$3,384.7710/1/2019$0.00$26,887.40$26,997.43
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11/1/2019$0.00$3,384.77$3,418.9311/1/2019$0.00$26,997.43$27,111.61
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12/1/2019$0.00$3,418.93$3,452.3112/1/2019$0.00$27,111.61$27,222.56
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