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    Jed Densing
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    budget

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    budget

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    32 views4 pages

    Sample Debt Repayment Schedule

    Uploaded by

    Jed Densing
    budget

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    2013

    Debt #1 Debt #2 Total Debt


    January
    Opening Balance $12,000.00 $12,987.00
    Interest Charged Per Day $1.81 $1.03
    Days in Month 31 31
    Total Interest Charged $56.05 $31.99
    Total Debt with Interest $12,056.05 $13,018.99
    Payments $931.00 $206.50
    Closing Balance $11,125.05 $12,780.50 $23,905.55
    February
    Opening Balance $11,125.05 $12,780.50
    Interest Charged Per Day $1.68 $1.02
    Days in Month 28 28
    Total Interest Charged $46.94 $28.43
    Total Debt with Interest $11,171.99 $12,808.93
    Payments $931.00 $206.50
    Closing Balance $10,240.99 $12,574.00 $22,814.99
    March
    Opening Balance $10,240.99 $12,574.00
    Interest Charged Per Day $1.54 $1.00
    Days in Month 30 30
    Total Interest Charged $46.29 $29.97
    Total Debt with Interest $10,287.29 $12,603.97
    Payments $3,931.00 $206.50
    Closing Balance $6,356.29 $12,367.50 $18,723.79
    April
    Opening Balance $6,356.29 $12,367.50
    Interest Charged Per Day $0.96 $0.98
    Days in Month 30 30
    Total Interest Charged $28.73 $29.48
    Total Debt with Interest $6,385.02 $12,396.98
    Payments $1,131.00 $206.50
    Closing Balance $5,254.02 $12,161.00 $17,415.02
    May
    Opening Balance $5,254.02 $12,161.00
    Interest Charged Per Day $0.79 $0.97
    Days in Month 31 31
    Total Interest Charged $24.54 $29.95
    Total Debt with Interest $5,278.56 $12,190.95
    Payments $2,331.00 $206.50
    Closing Balance $2,947.56 $11,954.50 $14,902.06
    June
    Opening Balance $2,947.56 $11,954.50
    Interest Charged Per Day $0.44 $0.95
    Days in Month 30 30
    Total Interest Charged $13.32 $28.49
    Total Debt with Interest $2,960.89 $11,982.99
    Payments $2,081.00 $206.50
    Closing Balance $879.89 $11,748.00 $12,627.89
    July
    Opening Balance $879.89 $11,748.00
    Interest Charged Per Day $0.13 $0.93
    Days in Month 31 31
    Total Interest Charged $4.11 $28.94
    Total Debt with Interest $884.00 $11,776.94
    Payments $884.00 $206.50
    Closing Balance $0.00 $11,541.50 $11,541.50
    August
    Opening Balance $0.00 $11,541.50
    Interest Charged Per Day $0.00 $0.92
    Days in Month 31 31
    Total Interest Charged $0.00 $28.43
    Total Debt with Interest $0.00 $11,569.93
    Payments $0.00 $1,137.50
    Closing Balance $0.00 $10,404.00 $10,404.00
    September
    Opening Balance $0.00 $10,404.00
    Interest Charged Per Day $0.00 $0.83
    Days in Month 30 30
    Total Interest Charged $0.00 $24.80
    Total Debt with Interest $0.00 $10,428.80
    Payments $0.00 $1,137.50
    Closing Balance $0.00 $9,266.50 $9,266.50
    October
    Opening Balance $0.00 $9,266.50
    Interest Charged Per Day $0.00 $0.74
    Days in Month 31 31
    Total Interest Charged $0.00 $22.82
    Total Debt with Interest $0.00 $9,289.32
    Payments $0.00 $1,137.50
    Closing Balance $0.00 $8,129.00 $8,129.00
    November
    Opening Balance $0.00 $8,129.00
    Interest Charged Per Day $0.00 $0.65
    Days in Month 30 30
    Total Interest Charged $0.00 $19.38
    Total Debt with Interest $0.00 $8,148.38
    Payments $0.00 $1,137.50
    Closing Balance $0.00 $6,991.50 $6,991.50
    December
    Opening Balance $0.00 $6,991.50
    Interest Charged Per Day $0.00 $0.56
    Days in Month 31 31
    Total Interest Charged $0.00 $17.22
    Total Debt with Interest $0.00 $7,008.72
    Payments $0.00 $1,137.50
    Closing Balance $0.00 $5,854.00 $5,854.00
    Milestones Achieved Specifics About Debts
    Debt #1 (Student Loans)
    Total $12,000.00
    Interest Rate 5.5%
    1st Priority

    Debt #2 (Car Loan)


    Total Debt Cleared This Year $4,081.45 Total $12,987.00
    Total Debt Cleared Overall $15,072.45 Interest Rate 2.9%
    2nd Priority

    PHASE 1 (Debt #1 First)


    Debt #1 Regular Payments
    Accelerated payments $931.00
    Total Debt Cleared This Year $5,172.01
    Total Debt Cleared Overall $16,163.01
    Debt #2 Regular Payments
    **Tax Return of $3,000 added*** Minimum Payment $206.50

    PHASE 2 (Debt #2 Focus)


    Debt #1 Regular Payments
    Total Debt Cleared This Year $9,263.21 No more payments! $0.00
    Total Debt Cleared Overall $20,254.21
    **Freelance income of $200
    added*** Debt #2 Regular Payments
    Accelerated payments $1,137.50

    Total Debt Cleared This Year $10,571.98


    Total Debt Cleared Overall $21,562.98
    **Freelance income of $200
    added***
    **Tax Rebate of $1200 added**

    Total Debt Cleared This Year $13,084.94


    Total Debt Cleared Overall $24,075.94
    **Freelance income of $150
    added***
    **Excess wedding money of $1000
    added**

    Total Debt Cleared This Year $15,359.11


    Total Debt Cleared Overall $26,350.11
    **Freelance income of $100
    added***

    Total Debt Cleared This Year $16,445.50


    Total Debt Cleared Overall $27,436.50
    Starting Phase 2

    Total Debt Cleared This Year $17,583.00


    Total Debt Cleared Overall $28,574.00

    Total Debt Cleared This Year $18,720.50


    Total Debt Cleared Overall $29,711.50

    Total Debt Cleared This Year $19,858.00


    Total Debt Cleared Overall $30,849.00

    Total Debt Cleared This Year $20,995.50


    Total Debt Cleared Overall $31,986.50

    Total Debt Cleared This Year $22,133.00


    Total Debt Cleared Overall $33,124.00

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