Saturday, December 28, 2019

Send A Personal Finance Forecasting Tool In Excel











About:

After college I graduated with $50K in student loans and $40K for medical bills in my early 20’s.  I created a simple spreadsheet after I graduated in order to plan how I could pay off my debts by the age of 30.

The spreadsheet includes an easy-to-follow instruction tab that walks through the necessary steps to populate the worksheets.  The workbook includes the following functionality:

Loans/debt

  • easy to update (only need loan balance, interest rate, and monthly payment)

  • automatically creates graphs and amortization table for each loan

  • calculates total amount paid, interest paid on life of the loan, and pay off date

  • consolidates each debt automatically onto a summary worksheet

  • allows user to create what if scenarios in order to see impact of changing amount of your monthly payments

Household Financials

  • forecast yearly household savings

  • ability to plug in current income and forecast out 15 years (can forecast salary increases)

  •  input current investment balance and forecast yearly growth (takes into account monthly contributions)

  • graphically depicts 15 year forecast of your household savings and investment net worth on one single easy-to-read graph

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