Debt Management Spreadsheet
A simple and affordable way to get a handle on your finances while not requiring fancy software is by creating a Debt Management Spreadsheet in excel or any spreadsheet software program.
The information you need to gather to effectively analyze your debts is the following:
- Due Date
- Creditor Name
- Total Amount Owed
- Minimum Payment Required
- Interest Rate
- Website Login Information
If you compile all the information above, this will give you everything you need in one place to help effectively analyze and manage your debt situation. You may consider adding all of your monthly bills to this spreadsheet (utilities, rent, mortgage, etc), and also do a similar exercise for your dictionary expenses (food, entertainment, etc) and establish a budget for each item to help control spending.
