Excel Model: Debt Reduction Calculator
Title: Debt Reduction Calculator
Description:
This spreadsheet helps users manage and reduce their credit card debt by providing a structured way to record debt information and track payments. It includes sections for entering creditor details, calculating monthly payments, and summarizing debt reduction progress.
- Creditor Information: Enter details about each creditor, including balance, interest rate, and monthly payment.
- Payment Schedule: Record monthly payments and track the balance reduction over time.
- Debt Reduction Summary: Provides an overview of total debt, average interest rate, and total monthly payments.
Source: Custom Calculator
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Click the following icon to download the spreadsheet, allowing you to save the file on your computer along with edits.
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