A Free Debt Reduction Spreadsheet is an ideal way for you to come up with a list of debts you can afford and therefore be able to settle them off. It will provide a simple, outline list of all your debts and the amount of each debt.
There is available information that you can download, which provides a free introduction to debt and the spreadsheet in particular. The idea is to show you how you can make use of this spreadsheet.
How it works: Firstly, you will need to download the spreadsheet. You should then copy and paste the spreadsheet on your workstation or computer and access it by entering your details. In order to prevent spamming and losing your personal details, you will need to select the ‘Yes’ option to the ‘OK’ question.
Next, it will ask you for your personal details. You will be asked to enter your personal details and other optional details. Once all this has been completed, it will have the details needed to ensure that it operates as it should.
It will ask you to enter all the correct information to allow it to work out how much you can afford to pay off each debt. The software will only accept accurate information.
It is a good idea to make sure that you type as accurately as possible to ensure that your data is correct. If the results are not to your satisfaction, you can make changes to the information before proceeding.
Once you have entered the required information, you will receive a summary of your monthly payments. The summary will show you a breakdown of how much you will need to set aside every month to complete each of your debts.
Monthly payments vary according to the total amount owed. However, they all include an annual percentage rate (APR), which is an assessment of how much you owe for each of your debts.