How to Manage Debt With Spreadsheets

Use the right software to track your debt.

Keeping track of the bills and paying your debts can be difficult. The right software tools can make the job at least a little bit easier. Once a spreadsheet program is set up, you can simply enter your financial information and have the spreadsheet calculate everything from your required monthly payment to the remaining balance on your loan or credit card account.

Things You'll Need

• Computer
• Spreadsheet program
• Debt management template

Instructions

1. Gather all of your bills and debt information together. The more information you have available, the more complete your debt tracking spreadsheet will be when done.

2. Download a template designed to track your debts and monthly expenses. Microsoft has a number of powerful templates for everything from creating a monthly budget to tracking your credit card balances.

3. Open the template and save the spreadsheet to your hard drive or network share. Enter your own information into the template. As you enter information, the totals on the spreadsheet will automatically update.

4. Update your debt management spreadsheet each time you pay a bill or receive a credit card statement. Be sure to save the spreadsheet after each change is made.

References

• Microsoft Office: Consumer Debt Manager