Alysson1220

Q: Debt Reduction Spreadsheet

I'm looking for a good Debt Reduction spreadsheet that shows the snowball effect (all the payments and not just the "debt free date").  I have found a ton for Excel, but none exclusively for Numbers.  The Excel ones don't open completely with all the correct formulas and functions.  Does anyone know of a good  spreadsheet like this or a good site that has iWork templates?

Posted on Apr 25, 2011 6:15 PM

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Q: Debt Reduction Spreadsheet

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  • by Badunit,

    Badunit Badunit Apr 25, 2011 7:28 PM in response to Alysson1220
    Level 6 (11,705 points)
    iTunes
    Apr 25, 2011 7:28 PM in response to Alysson1220

    I don't know what one of these looks like.  Can you post a link to an Excel version you like?

  • by Alysson1220,

    Alysson1220 Alysson1220 Apr 25, 2011 9:26 PM in response to Badunit
    Level 1 (0 points)
    Apr 25, 2011 9:26 PM in response to Badunit

    This is the one I like, but it just doesn't open all without all the formula crossover errors.

     

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

  • by Jerrold Green1,

    Jerrold Green1 Jerrold Green1 Apr 26, 2011 2:57 PM in response to Alysson1220
    Level 7 (30,001 points)
    Apr 26, 2011 2:57 PM in response to Alysson1220

    Alysson,

     

    I looked at the download spreadsheet that you referenced. With over 8,000 unsupported formulas, I don't think it would be worth trying to rework it.  It might make more sense to install the free LibreOffice and run with that.

     

    Jerry

  • by memoryman ,

    memoryman memoryman Feb 4, 2014 11:55 AM in response to Alysson1220
    Level 1 (0 points)
    Feb 4, 2014 11:55 AM in response to Alysson1220

    I been looking for the same thing. Have you been able to find anything? Please Advise

     

    Jonathan

  • by SGIII,

    SGIII SGIII Feb 4, 2014 1:39 PM in response to Jerrold Green1
    Level 6 (10,691 points)
    Mac OS X
    Feb 4, 2014 1:39 PM in response to Jerrold Green1

    over 8,000 unsupported formulas, I don't think it would be worth trying to rework it.

     

    I was intrigued and checked it out in Excel. Lots of array formulas. Are array formulas coming to Numbers anytime soon?

     

    SG

  • by Badunit,

    Badunit Badunit Feb 4, 2014 2:53 PM in response to SGIII
    Level 6 (11,705 points)
    iTunes
    Feb 4, 2014 2:53 PM in response to SGIII

    I must have lost track of this one last year. That spreadsheet doesn't look all that hard to replicate in Numbers. The array formulas I saw are not necessary; they could be replicated with regular formulas (and in one cell each, not requiring extra columns/rows to do calculations). One table simply has a problem with unnecessary use of Excel's NA function; easily fixed. I'm going to take a crack at it and see how it goes. Hopefully I won't run into any difficulties.

  • by Jerrold Green1,

    Jerrold Green1 Jerrold Green1 Feb 4, 2014 4:10 PM in response to SGIII
    Level 7 (30,001 points)
    Feb 4, 2014 4:10 PM in response to SGIII

    SGIII wrote:

     

    over 8,000 unsupported formulas, I don't think it would be worth trying to rework it.

     

    I was intrigued and checked it out in Excel. Lots of array formulas. Are array formulas coming to Numbers anytime soon?

     

    SG

    If I knew, I'd be sworn to secrecy.

     

    J.

  • by Badunit,Helpful

    Badunit Badunit Feb 4, 2014 7:12 PM in response to Jerrold Green1
    Level 6 (11,705 points)
    iTunes
    Feb 4, 2014 7:12 PM in response to Jerrold Green1

    Here is the Excel spreadsheet ported to Numbers 3.1

     

    https://dl.dropboxusercontent.com/u/54961502/For%20Apple%20Forums/debt-reduction -calculator.numbers.zip

     

    I didn't try to make it pretty. There are too many formulas for me to want to change the structure from Excel's monolithic tables or to arrange things so it made more sense.

     

    I am assuming the Excel spreadsheet gave correct answers.  I did a limited test of the Numbers version against the Excel version and they worked the same in all tested cases. But I have to say it is difficult to go through a large imported spreadsheet looking for the instances where Numbers replaced a formula with a value. It is easy to miss one (or more).

     

    I don't know why the original author chose to use array formulas and chose to use a few named variables instead of using cell values. It wasn't that much more efficient and for the "months to pay off" formula it was much more complex than it needed to be. All array formulas were easily replaced with regular formulas.  All named variables (hopefully I found all cases where they were used) were easily substituted with simple expressions based on cell values.

  • by memoryman ,

    memoryman memoryman Feb 4, 2014 8:48 PM in response to Badunit
    Level 1 (0 points)
    Feb 4, 2014 8:48 PM in response to Badunit

    Wow, Thank you sooo much for converting that from Excel! Unfortunetley, I am on OS 10.7.5 Because my early 2008 MB can not get a higher OS. That being said, I have an earlier version of Numbers. Is there a way to save that as an earlier version?

     

     

    Ironically, the reason I need the spreadsheet is so I can get out of debt and get a new computer. Go figure.... ugh..

     

    Thank you!!!!!

     

    Jonathan

  • by Badunit,

    Badunit Badunit Feb 4, 2014 10:07 PM in response to memoryman
    Level 6 (11,705 points)
    iTunes
    Feb 4, 2014 10:07 PM in response to memoryman

    Here is an export to Numbers '09.  It is slower to calculate in Numbers '09, you'll see the spinning wheel with every change but it will get there in a few seconds.

     

    https://dl.dropboxusercontent.com/u/54961502/For%20Apple%20Forums/debt-reduction -calculator%20Numbers09.numbers.zip

     

    It is amazing how big a difference in total interest there can be between these methods of payback.

  • by memoryman ,

    memoryman memoryman Feb 4, 2014 10:37 PM in response to Badunit
    Level 1 (0 points)
    Feb 4, 2014 10:37 PM in response to Badunit

    Badunit!

     

    What can I say but thank you!!!!! That works perfectly. Yup, It's a lot of incestive to pay it off faster. Im lookin at 40mths to go before Im done ... Gotta start somewhere and this is a great way to keep it all on track.

     

    Thanks again!

     

     

    Side note...

    Im new to the meessage board as Im not sure where I should post the following quesiton/statement.... but shouldn't there be debt reduction Templates that already come with Numbers?? Maybe they have it in a new version of Numbers and I just don't know about it.

  • by Badunit,

    Badunit Badunit Feb 4, 2014 10:53 PM in response to memoryman
    Level 6 (11,705 points)
    iTunes
    Feb 4, 2014 10:53 PM in response to memoryman

    There is a loan comparison template and a mortgage calculator template. Those are kind of the basic ones most people would need. The Debt Reduction Calculator is a little more complex than most templates. Excel didn't come with it either; it was someone else's creation.

     

    I would think that if you want to pay off a collection of loans with as little interest (i.e., wasted money) as possible, you would make the minimum required payment on all of them and then use whatever else you have to pay down the one with the highest interest rate. When that one is paid off completely, continue the process and attack the one with the next highest interest rate. Credit card debt is typically the worst offender.

  • by InspiredLife,

    InspiredLife InspiredLife May 6, 2015 5:13 PM in response to Badunit
    Level 1 (24 points)
    Mac App Store
    May 6, 2015 5:13 PM in response to Badunit

    Thanks for sharing this. Even when so much time had passed from the original post. It's nice to see people who follow through on such things.

    There's a good chance your Numbers sheet will help me do what I was looking to do. I'll check it out just as soon as I hit the Reply button in a second. ;-)

  • by emd9930,

    emd9930 emd9930 Nov 17, 2015 8:58 AM in response to Badunit
    Level 1 (0 points)
    Nov 17, 2015 8:58 AM in response to Badunit

    I know an old post, but I just used this today and it worked great.   The person I am trying to help has a MAC, like I do, so it was better to share on a Numbers spreadsheet than use a google doc version (which works great too).

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