For a while now I’ve been looking for an elegant solution to forecast my credit card and savings balances. Kind of like how Microsoft Money use to work but less fiddly or floatapp.com but less expensive. In the end I got fed up and decided to make my own using a spreadsheet and I’ve created a reusable template for everyone else, well only those with Apple Numbers software - sorry to those of you who don’t. It can be exported to an .xls file, but almost all of the references break.
I’ve created two models, one for minimum payment based debt repayment with optional extra fixed amount, which is good if you have a 0% interest credit card and use the Stoozing method. The other is for when you’re no longer on 0% interest rate and have a balance that you’re unable to pay off within a month. Of course it’s recommend to transfer the balance before it reaches that point, some like me are declined upon application for the next card.
I’ve also included two charts on each model; one illustrating exponential growth and the other is an interactive bar chart illustrating each account balance and net worth over time.
I’ve made it so that you only need to change the values in the Settings tab and it’ll automatically update the other two tabs forecasting when you can expect to be paid off. This is also useful even if you don’t have any debts and are just looking to get a forecast of your savings.
Take a look and feel free to download and modify it - https://drive.google.com/file/d/1teWx01ZD-ygCi58dG7gyhSZTxz1QZJqe/view?usp=sharing
And yes, I’m aware of the irony of sharing this via Google Drive. I just wanted to keep my email address hidden and sharing via iCloud Drive means it wouldn’t be.
I’m still open to suggestions of good and inexpensive web/mobile apps that do something similar, ideally with an Emma style connection to my accounts.
EDIT: For those of who don’t have Apple Numbers, you should be able to save it to your iCloud account (they’re free to setup even if you’re on Android and Windows exclusively) and view it using the iCloud version of the app which is pretty much the same I think.