Debt Manager

Creditors
2016 Sp
http://www.spreadsheet123.com/calculators/debt-reduction-manager.html
Date
02/01/2015
Monthly Payment
600.00
Minimum Payment
550.00
No. Credit Account
Balance
Interest Rate
Min Payment
Credit Card 1
8,520.00
13.00%
95.00
Auto Loan 1
2,100.00
9.81%
30.00
Auto Loan 2
6,500.00
12.00%
70.00
Credit Card 2
7,900.00
13.50%
110.00
Credit Card 3
4,500.00
4.00%
25.00
Credit Card 4
7,200.00
18.90%
120.00
Credit Card 5
1,000.00
4.00%
25.00
Credit Card 6
150.00
4.00%
25.00
Credit Card 7
150.00
4.00%
25.00
10
Credit Card 8
2,500.00
4.00%
25.00
- Includes rows for 20 acc
Debt Managment Calculators by Spreadsheet123.com
2014 Spreadsheet123 LTD
Custom Priority
2
1
3
5
4
6
7
8
11
9
- Includes rows for 20 accounts
Debt Manager
Monthly Payment
600.00
Minimum Payment
550.00
Monthly Snowball
50.00
Choose Your Strategy

Credit Account
Credit Card 6
Credit Card 7
Credit Card 5
Auto Loan 1
Credit Card 8
Credit Card 3
Auto Loan 2
Credit Card 4
Credit Card 2
Credit Card 1
Initial
Balance
150.00
150.00
1,000.00
2,100.00
2,500.00
4,500.00
6,500.00
7,200.00
7,900.00
8,520.00
Interest
Rate
4.00%
4.00%
4.00%
9.81%
4.00%
4.00%
12.00%
18.90%
13.50%
13.00%
Interest
Paid
0.75
1.26
23.31
299.55
231.28
671.47
4,445.34
9,723.01
7,351.94
10,478.83
Total
Amount Paid
150.75
151.26
1,023.31
2,399.55
2,731.28
5,171.47
10,945.34
16,923.01
15,251.94
18,998.83
Debt Reduction Chart

Select the Account to view
45,000.00
40,000.00
35,000.00
30,000.00
25,000.00
20,000.00
15,000.00
10,000.00
5,000.00
Snowball
Payments
Minimum
Payments
Paid
Interest
Last Payment
Date
Months to
Pay Of
May-15
Jun-15
Jan-16
Mar-17
Mar-18
Nov-19
Jan-22
Jul-23
Mar-24
Jun-25
3
4
11
25
37
57
83
101
109
124
700.00
600.00
500.00
400.00
300.00
200.00
100.00
Paid
Interest
Balance
Debt Manager Payment Schedule

Initial Balance
Av. Interest Rate
40,520.00
8.72%
Minimum Payments
45,136.23
Snowball Payments
28,610.61
Paid Interest
Total Amount Paid
Payment
Date
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Choose Your Strategy
Select the Account to view
33,226.73
73,746.73
Additional
Payments
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Minimum
Payments
Snowball
Payments
550.00
550.00
525.75
502.02
500.00
500.00
500.00
500.00
500.00
500.00
500.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
475.00
445.00
445.00
445.00
445.00
445.00
445.00
50.00
50.00
74.25
97.98
100.00
100.00
100.00
100.00
100.00
100.00
50.32
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
125.00
155.00
155.00
155.00
155.00
155.00
155.00
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
445.00
445.00
445.00
445.00
445.00
445.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
420.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
395.00
155.00
155.00
155.00
155.00
155.00
155.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
180.00
172.26
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
395.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
325.00
258.46
205.00
205.00
205.00
205.00
205.00
205.00
205.00
205.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
95.00
-
205.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
275.00
341.54
395.00
395.00
395.00
395.00
395.00
395.00
395.00
155.40
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
505.00
148.86
-
Paid
Interest
404.41
403.39
402.37
401.34
400.30
399.25
398.19
397.13
396.06
394.98
393.89
392.96
391.25
389.52
387.78
386.02
384.25
382.46
380.66
378.84
377.00
375.14
373.27
371.38
369.48
368.04
366.86
365.66
364.46
363.25
362.03
Balance
40,324.41
40,127.81
39,930.18
39,731.51
39,531.81
39,331.05
39,129.25
38,926.37
38,722.43
38,517.41
38,360.97
38,153.93
37,945.18
37,734.70
37,522.48
37,308.52
37,092.76
36,875.22
36,655.87
36,434.72
36,211.72
35,986.87
35,760.15
35,531.54
35,301.02
35,069.07
34,835.92
34,601.59
34,366.04
34,129.30
33,891.32
360.80
359.55
358.30
357.04
355.77
354.50
353.21
351.91
350.59
349.27
347.94
346.60
345.25
343.88
342.51
341.12
339.73
338.32
336.90
335.47
334.03
332.57
331.10
329.63
328.13
326.63
325.14
322.25
319.32
316.36
313.37
310.35
307.30
304.21
301.09
297.94
294.75
291.53
288.28
284.98
281.66
278.30
274.90
271.46
267.99
264.48
260.94
257.35
253.73
250.07
246.37
33,652.11
33,411.67
33,169.98
32,927.03
32,682.80
32,437.30
32,190.51
31,942.41
31,693.00
31,442.28
31,190.22
30,936.82
30,682.07
30,425.94
30,168.46
29,909.59
29,649.31
29,387.63
29,124.53
28,859.99
28,594.02
28,326.59
28,057.70
27,787.32
27,515.45
27,249.82
26,974.96
26,697.21
26,416.54
26,132.91
25,846.28
25,556.63
25,263.93
24,968.14
24,669.24
24,367.18
24,061.93
23,753.46
23,441.74
23,126.72
22,808.37
22,486.67
22,161.57
21,833.04
21,501.02
21,165.51
20,826.45
20,483.81
20,137.55
19,787.62
19,433.99
242.62
237.72
232.29
226.78
221.18
215.49
209.72
203.86
197.92
191.88
185.75
179.53
173.21
166.80
160.29
153.68
146.97
140.15
133.24
127.75
122.44
117.07
111.64
106.15
100.60
94.99
89.31
86.26
80.70
75.07
69.38
63.64
57.83
51.95
46.01
40.01
33.95
27.81
21.62
15.35
9.02
2.61
-
19,076.62
18,714.35
18,346.65
17,973.43
17,594.60
17,210.10
16,819.82
16,423.68
16,021.60
15,613.48
15,199.22
14,778.75
14,351.97
13,918.78
13,479.06
13,032.73
12,579.70
12,119.85
11,653.09
11,180.84
10,703.29
10,220.36
9,732.00
9,238.15
8,738.75
8,233.74
7,962.65
7,448.91
6,929.61
6,404.68
5,874.06
5,337.70
4,795.53
4,247.48
3,693.49
3,133.50
2,567.45
1,995.26
1,416.88
832.23
241.25
-
HELP
1.
2.
3.
4.
5.
Getting Started
Creditors
Payment Strategies
Debt Reduction Chart
Payment Schedule
1 Getting Started
To begin using Debt Manager, you need to gather your financial data from your bank account sta
or obtain up to date account balance information for each of the accounts from your creditors. Yo
also need to obtain your current interest rates for every account, which you can find on your ban
statements or by asking your creditors.
2 Creditors
Navigate to the "Creditors" tab to enter your information in the relevant cells. In here you can als
create the priority with which you will be making your snowball payments, selecting which credit
pay first, second, third and so on.
3 Payment Strategies
Snowball - Lowest Balance
The snowball strategy considers paying of the account with the lowest balances first while maki
minimum payments on the others. Although you might see reduction in number of creditors, the
snowball approach not always considered to be an appropriate strategy due to the fact that othe
accounts may have higher interest rates and making only minimum payments will take longer to
as a result you will pay more interest in the end.
Debt Stacking (Avalanche) - Highest Interest
Debt Stacking also known as Avalanche strategy that considers paying of the accounts with the
interest rates first, while making the minimum payments on the others. Although it may take you
to pay of and the number of creditors will not be reduced as fast as it will using the Snowball str
but it is proven that using Avalanche method results in paying the lowest amount of total interes
No Snowball
No snowball payments means that you will be making only minimum payments made towards ea
your debts, thus takes significantly longer to pay of your debt entirely. As a result of this the tota
amount of interest will exceed the total amount you owe.
Table Ascending and Descending
If you select Table Ascending strategy, your creditors will be positioned in the same order as it w
initially entered in to the table allocating the amount of snowball to the first creditor on your list.
Using Table Descending strategy is quite the opposite, when selected, the position of the last ent
your table will become first, which means that the last creditor becomes a target for snowballing
In addition, you can also use Excel's built-in sorting function to sort entries of your table, if you k
how to do it.
For Excel 2003 Data > Sort

For Excel 2007 + Data Tab in Ribbon then Sort
Custom Priority Ascending and Descending

You can organize the order of your debts using Custom Priority column. Simply enter values
1,2,3,.....,20,etc. in the row to prioritise the debt that you want to pay first. Function that is used
spreadsheet will automatically sort your creditors in Ascending or Descending order depending
on your selection.
4 Debt Reduction Chart
The Results tab contains list of all of your creditors positioned in the way that reflects the strateg
selected from the drop-down list. This table contains all important information about each of you
accounts such as your initial balance, interest paid, total amount paid, approximate date of the la
payment and at last the number of months that it'll take to pay your credit of. The Debt Reducti
will graphically interpret all information to let you visually see how your debt is reduced over tim
as well as per each account, but most importantly will let you see how Snowball is applied.
5 Payment Schedule
The Payment Schedule tab provides detailed information about status of your debt overall as we
individual account. By making selection of the account from the list , you can easily see when sn
will begin to apply and how it afects on the balance of the individual account or your overall deb
can also enter occasional additional payments (snowflakes) in the cells provided for it to see how
afects your total amount of interest payable and reduces time to pay-of.
om your bank account statements

nts from your creditors. You will
you can find on your bank
t cells. In here you can also

nts, selecting which creditor to
balances first while making

number of creditors, the
due to the fact that other
yments will take longer to pay of,
of the accounts with the highest

Although it may take you longer
will using the Snowball strategy,
st amount of total interest.
ayments made towards each of

As a result of this the total
in the same order as it was

first creditor on your list.
he position of the last entry of
s a target for snowballing.
ies of your table, if you know
Simply enter values

rst. Function that is used in this
ending order depending
y that reflects the strategy

mation about each of your
approximate date of the last
edit of. The Debt Reduction Chart
debt is reduced over time overall
Snowball is applied.
f your debt overall as well as per

u can easily see when snowball
ccount or your overall debt. You
provided for it to see how this
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Version
1.0.2
Description
Minor error fix in several formulas in
Extra Payment calculations
Date
2/19/2015

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Creditors

No. Credit Account

- Includes rows for 20 acc

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

2016 Spreadsheet123 LTD

- Includes rows for 20 accounts

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Choose Your Strategy

Debt Reduction Chart

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Debt Manager Payment Schedule

Choose Your Strategy

Select the Account to view

Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

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Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD

Debt Managment Calculators by Spreadsheet123.com

2014 Spreadsheet123 LTD