Debt Reduction Calculator for Excel

Debt Reduction Calculator for Excel

Download Editors' Rating:
5
Spectacular
Average User Rating:
4.0
out of 32 votes

Quick Specs

  • Version:
    1.2.4
  • Total Downloads:
    445,681
  • Date Added:
    November 14, 2010
  • File Size:
    915.97KB
  • Downloads Last Week:
    192
  • Operating Systems:
    Windows Me/NT/2000/XP/Vista/7

Editors' Review

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This debt management tool allows users to manage their debts using built-in formulas that automatically calculate the total amount owed and total interest paid. Users familiar with Excel will find it easy to use.

The Debt Management Calculator has three tabs at the bottom of the spreadsheet: Calculator, Payment Schedule, and Chart. The program explains different methods of managing debt, namely the "snowball" or "avalanche" methods. The "snowball" method advises the user to pay the debt with the lowest balance faster, where the "avalanche" method advises the user to pay the debt with the highest interest faster. We entered some sample debts into the Creditor Information Table in the Calculator tab of the spreadsheet, and the program processed the information. The strategy bar positioned below the Creditor Information Table allowed us to choose either method to manage debts, or set up custom options. Clicking on the Payment Schedule tab showed us how much the monthly payments would be, and how long it will take to pay off the total amount of debt. The Chart tab presents the user with a visual display of how his interest will decrease over time.

This program is free and easy to install and uninstall. It does not have a built-in Help file, but provides detailed instructions about how it works to the right of the spreadsheet area. It's simple to use and provides the user with a handy and visual way to handle debt.

 
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Publisher's Description

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User Reviews
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Results 1–2 of 2

4 stars

"Good tool to manage debt reduction"

January 04, 2014  |  By RdcrzR

 |  Version: Debt Reduction Calculator for Excel 1.2.4

Pros

Quick, easy way to set prioirities and manipulate reducing your debt.
Easy to add, subtract and update data.
Can switch between strategies easily, and add one-time "snowflake" or extra payments.
FREE!!

Cons

A few of the options aren't active in OpenOffice version, such as the third sheet for amortization schedule, viewing, and adding snowflakes; or the strategy switching pull-down.

Summary

Really need to use Excel in order to take full advantage of the power of this great, user-friendly tool. OpenOffice users will find some frustrations.

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5 stars

"Effective and Simple Review"

December 16, 2013  |  By eugene-cilliars

 |  Version: Debt Reduction Calculator for Excel 1.2.4

Pros

Easy to use and help with deciding how to get out of debts.

Cons

none to explain

Summary

Focus and use it and minimise your debts and spreadsheet is the way to go.

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Results 1–2 of 2

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Full Specifications

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What's new in version 1.2.4
Version 1.2.4 lets you include occasional additional payments (for "debt snowflaking").
General
Publisher Vertex42
Publisher web site http://www.vertex42.com
Release Date November 13, 2010
Date Added November 14, 2010
Version 1.2.4
Category
Category Productivity Software
Subcategory Personal Finance Software
Operating Systems
Operating Systems Windows 2000, Windows 7, Windows XP, Windows, Windows Vista, Windows Me, Windows NT
Additional Requirements Microsoft Excel/OpenOffice
Download Information
File Size 915.97KB
File Name debt-reduction-calculator.zip
Popularity
Total Downloads 445,681
Downloads Last Week 192
Pricing
License Model Free
Limitations Not available
Price Free

Previous Versions:

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