Comments on: Interest Paid: How Much Debt Costs Spreadsheet http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/ Debt Credit & Personal Finance | Bible Help Fri, 10 Sep 2010 05:33:07 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Best of Money Carnival #57 on Debt Free Adventurehttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-9816 Best of Money Carnival #57 on Debt Free Adventure Tue, 29 Jun 2010 10:02:18 +0000 http://www.debtfreeadventure.com/?p=3451#comment-9816 [...] before partaking, and many simply don’t because loans are the norm.  Ace, check out the how much debt costs spreadsheet… you and others should find it useful.Number 1Peter brings us Can You Go To Jail If You [...] [...] before partaking, and many simply don’t because loans are the norm.  Ace, check out the how much debt costs spreadsheet… you and others should find it useful.Number 1Peter brings us Can You Go To Jail If You [...]

]]> By: Life Energy - How Much Money is Your Life Worth?http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-8049 Life Energy - How Much Money is Your Life Worth? Fri, 26 Feb 2010 16:07:45 +0000 http://www.debtfreeadventure.com/?p=3451#comment-8049 [...] or are you simply shopping for the thrill of something new?Matt has written several times about how much debt costs that also illustrate my point beautifully.  With your real hourly wage, you can now see how fast [...] [...] or are you simply shopping for the thrill of something new?Matt has written several times about how much debt costs that also illustrate my point beautifully.  With your real hourly wage, you can now see how fast [...]

]]> By: Save Money - Reduce Debt - Increase Cash Flowhttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-7843 Save Money - Reduce Debt - Increase Cash Flow Thu, 18 Feb 2010 22:27:55 +0000 http://www.debtfreeadventure.com/?p=3451#comment-7843 [...] reason you have no cash flow is because so much of your monthly income is going toward the interest on your debt.  I am willing to bet that your debt stacked up slowly over time as one emergency after another [...] [...] reason you have no cash flow is because so much of your monthly income is going toward the interest on your debt.  I am willing to bet that your debt stacked up slowly over time as one emergency after another [...]

]]> By: Matt Jabshttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-7518 Matt Jabs Fri, 12 Feb 2010 06:53:24 +0000 http://www.debtfreeadventure.com/?p=3451#comment-7518 Thanks Michelle, glad it works for you too. Like you said, the added security is a fantastic feeling - especially when we're in the midst of a down economy like this. Thanks Michelle, glad it works for you too. Like you said, the added security is a fantastic feeling – especially when we’re in the midst of a down economy like this.

]]> By: Michellehttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-7490 Michelle Thu, 11 Feb 2010 12:28:27 +0000 http://www.debtfreeadventure.com/?p=3451#comment-7490 We did the 75/25 with our 'snowball' until our 1-month buffer (we use YNAB) was filled. Being able to live 2 paychecks ahead has freed up so much cash/relieved so much stress. Thanks for giving this advice...people should really benefit from this approach. We did the 75/25 with our ‘snowball’ until our 1-month buffer (we use YNAB) was filled. Being able to live 2 paychecks ahead has freed up so much cash/relieved so much stress. Thanks for giving this advice…people should really benefit from this approach.

]]> By: Thank you, Personal Finance Bloggers! « ElysianConfusionhttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6390 Thank you, Personal Finance Bloggers! « ElysianConfusion Fri, 15 Jan 2010 21:55:06 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6390 [...] Reading Matt’s comments led me to Debt Free Adventure. Matt Jabs has a great spreadsheet for tracking how much your debt costs you. Since it’s available as a Google Doc, Excel or OpenOffice document, you might want to pick it up from him directly at http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/. [...] [...] Reading Matt’s comments led me to Debt Free Adventure. Matt Jabs has a great spreadsheet for tracking how much your debt costs you. Since it’s available as a Google Doc, Excel or OpenOffice document, you might want to pick it up from him directly at http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/. [...]

]]> By: Matt Jabshttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6388 Matt Jabs Fri, 15 Jan 2010 20:33:56 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6388 Good idea. I now advise people to save $1,000 quickly, then switch to the 75/25 method until your Emergency Fund is funded with one month worth of expenses, then switch to either 100% debt reduction or whatever ratio you're comfortable with.Even if you decide to make your ration 95/5... I think it is always a good idea to pay yourself at least something. It's just a good habit. Good idea. I now advise people to save $1,000 quickly, then switch to the 75/25 method until your Emergency Fund is funded with one month worth of expenses, then switch to either 100% debt reduction or whatever ratio you’re comfortable with.

Even if you decide to make your ration 95/5… I think it is always a good idea to pay yourself at least something. It’s just a good habit.

]]> By: Elysiahttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6376 Elysia Fri, 15 Jan 2010 17:14:10 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6376 Matt, Well, I've been working on debt reduction just since last April, and even that has definitely helped how I look at debt, but these calculations add a level I'd missed before. Although happily I can see that at *least* we're paying more in principal than in interest, the amount of interest we pay per month looks like it's only gone down 189$ per month in the last year. I have managed to get rid of one credit card and have hopes of eliminating another this year, which should help. I almost wish we had those little debts here there and everywhere, those would be a lot easier to pick off. Oh well! At least we're making progress and I can see the light. I think I might also take on your 75% debt/25% savings ratio. I don't feel like that $1k emergency fund is enough... Matt,
Well, I’ve been working on debt reduction just since last April, and even that has definitely helped how I look at debt, but these calculations add a level I’d missed before. Although happily I can see that at *least* we’re paying more in principal than in interest, the amount of interest we pay per month looks like it’s only gone down 189$ per month in the last year.
I have managed to get rid of one credit card and have hopes of eliminating another this year, which should help. I almost wish we had those little debts here there and everywhere, those would be a lot easier to pick off. Oh well! At least we’re making progress and I can see the light. I think I might also take on your 75% debt/25% savings ratio. I don’t feel like that $1k emergency fund is enough…

]]> By: Matt Jabshttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6358 Matt Jabs Fri, 15 Jan 2010 02:11:16 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6358 Thanks Elysia... and make sure to do use the spreadsheet, it may be a little scary, but it will help so much in the long run.I promise you'll never view your debt the same way again! Which is a great thing :-) Thanks Elysia… and make sure to do use the spreadsheet, it may be a little scary, but it will help so much in the long run.

I promise you’ll never view your debt the same way again! Which is a great thing :-)

]]> By: Elysiahttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6356 Elysia Fri, 15 Jan 2010 02:07:45 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6356 Matt, This sounds like a great exercise. I'm sure I'll find it terrifying. Best, and great site! -elysia Matt,
This sounds like a great exercise. I’m sure I’ll find it terrifying.
Best, and great site!
-elysia

]]> By: Save Then Buy vs. Buy Now, Pay Later | fivecentnickel.comhttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6063 Save Then Buy vs. Buy Now, Pay Later | fivecentnickel.com Thu, 07 Jan 2010 14:47:03 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6063 [...] the spreadsheet that I developed, you should sit down and take a long hard look at how much your debt costs. I can virtually guarantee that you will wind up with some good healthy anger toward your debt, [...] [...] the spreadsheet that I developed, you should sit down and take a long hard look at how much your debt costs. I can virtually guarantee that you will wind up with some good healthy anger toward your debt, [...]

]]> By: A Fun Battle – Debt Reduction « Eliminate The Muda!http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-6023 A Fun Battle – Debt Reduction « Eliminate The Muda! Wed, 06 Jan 2010 11:35:34 +0000 http://www.debtfreeadventure.com/?p=3451#comment-6023 [...] paying in interest every month. Keep oxygen close by in case you pass out when you see by using the Interest Spreadsheet from Debt Free Adventures. I just left my first comment over at Matt’s blog and spend about [...] [...] paying in interest every month. Keep oxygen close by in case you pass out when you see by using the Interest Spreadsheet from Debt Free Adventures. I just left my first comment over at Matt’s blog and spend about [...]

]]> By: High Return Investments for Low Income Peoplehttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-5998 High Return Investments for Low Income People Tue, 05 Jan 2010 21:09:43 +0000 http://www.debtfreeadventure.com/?p=3451#comment-5998 [...] off.  When you pay off debt you continually lower the principal value of that debt thus reducing how much your debt costs you each month.  I currently choose debt reduction over investing because I earn more by reducing [...] [...] off.  When you pay off debt you continually lower the principal value of that debt thus reducing how much your debt costs you each month.  I currently choose debt reduction over investing because I earn more by reducing [...]

]]> By: How Much Our Debt Costs - December 2009http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-5984 How Much Our Debt Costs - December 2009 Tue, 05 Jan 2010 17:41:03 +0000 http://www.debtfreeadventure.com/?p=3451#comment-5984 [...] and also gives you the nifty little graph allowing you to track your progress.  I deemed it the How Much Your Debt Costs Spreadsheet… check it [...] [...] and also gives you the nifty little graph allowing you to track your progress.  I deemed it the How Much Your Debt Costs Spreadsheet… check it [...]

]]> By: Financial Fundamentals to Help a DFA Reader | Debt Free Mehttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-4976 Financial Fundamentals to Help a DFA Reader | Debt Free Me Mon, 07 Dec 2009 21:47:15 +0000 http://www.debtfreeadventure.com/?p=3451#comment-4976 [...] Interest Paid: How Much Debt Costs Spreadsheet [...] [...] Interest Paid: How Much Debt Costs Spreadsheet [...]

]]> By: How Much Our Debt Costs – November 2009 | Debt Free Mehttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-4961 How Much Our Debt Costs – November 2009 | Debt Free Me Mon, 07 Dec 2009 21:41:15 +0000 http://www.debtfreeadventure.com/?p=3451#comment-4961 [...] Interest Paid: How Much Debt Costs Spreadsheet [...] [...] Interest Paid: How Much Debt Costs Spreadsheet [...]

]]> By: Debt Free Adventure | Money Smart Lifehttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-4704 Debt Free Adventure | Money Smart Life Tue, 01 Dec 2009 11:48:52 +0000 http://www.debtfreeadventure.com/?p=3451#comment-4704 [...] Interest Paid: How Much Debt Costs Spreadsheet [...] [...] Interest Paid: How Much Debt Costs Spreadsheet [...]

]]> By: Weekly Roundup – Cinnamon Bear Edition | fivecentnickel.comhttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-4673 Weekly Roundup – Cinnamon Bear Edition | fivecentnickel.com Mon, 30 Nov 2009 02:14:05 +0000 http://www.debtfreeadventure.com/?p=3451#comment-4673 [...] Interest Paid: How Much Our Debt Costs (Spreadsheet) [...] [...] Interest Paid: How Much Our Debt Costs (Spreadsheet) [...]

]]> By: Jeffhttp://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-4540 Jeff Mon, 23 Nov 2009 22:36:34 +0000 http://www.debtfreeadventure.com/?p=3451#comment-4540 I know it's a few days late for the comment, but I just finished filling in the spreadsheet for all of 2009. It took a little while to get all the data.HOLY COW!!! I pay alot of interest. It's very eye opening to see it all on one sheet for the whole year.I'm crunching some more numbers but the sheet is showing me that I need to pay my 2nd mortgage off first. In my current snowball it's last. It will save me almost $3,000 in interest to move it to the front of the line. Moving me 2 months closer to debt freedom by doing so.I know Dave says don't do it. But Mr. Ramsey also knows that his message is about behaviors. We've crossed that bridge and are working on straight mathematics now.So here's my feedback on the spreadsheet Matt. I love it. It's such a simple tool but once someone understands what it tell you, it's soooo valuable.Thanks a ton, Jeff@deliverawaydebt I know it’s a few days late for the comment, but I just finished filling in the spreadsheet for all of 2009. It took a little while to get all the data.

HOLY COW!!! I pay alot of interest. It’s very eye opening to see it all on one sheet for the whole year.

I’m crunching some more numbers but the sheet is showing me that I need to pay my 2nd mortgage off first. In my current snowball it’s last. It will save me almost $3,000 in interest to move it to the front of the line. Moving me 2 months closer to debt freedom by doing so.

I know Dave says don’t do it. But Mr. Ramsey also knows that his message is about behaviors. We’ve crossed that bridge and are working on straight mathematics now.

So here’s my feedback on the spreadsheet Matt. I love it. It’s such a simple tool but once someone understands what it tell you, it’s soooo valuable.

Thanks a ton,
Jeff@deliverawaydebt

]]> By: Monthly Debt Reduction & Savings Statement - November 2009 | Debt Free Adventure!http://www.debtfreeadventure.com/interest-paid-how-much-debt-costs-spreadsheet/#comment-4532 Monthly Debt Reduction & Savings Statement - November 2009 | Debt Free Adventure! Mon, 23 Nov 2009 20:45:55 +0000 http://www.debtfreeadventure.com/?p=3451#comment-4532 [...] this month I released my “How Much Debt Costs Spreadsheet” to help you figure out how much interest you’re paying and establish a proper [...] [...] this month I released my “How Much Debt Costs Spreadsheet” to help you figure out how much interest you’re paying and establish a proper [...]

]]>