I received this question the other day on my budget video and he was asking is
there a way that I I can do this in pay and pay off debt and track it with the
graph like you did so what I've done is I've created basically it's I've put it
on a credit card so that would be one type of debt and you could do it within
any others so let me show you what I've done I've created a little dashboard if
you will of of your credit card and so what I've done here is I've got the
month the balance I've got the interest that you pay the payment that you made
the purchases that you made that month and the number of months it's going to
take you to pay off that credit card now with this chart that I've created
there's there's nice little thing that you can do here so let's pretend it's
October and we're looking at the payment now we were planning and paying five
hundred dollars off on our credit card and it looks like we're going to be
paying it for thirty seven point seven months now if if we change that let's
say to eight hundred dollars you can see instantly on the chart that a chant
reduces the number of months to twenty the other thing that's good this is this
isn't a table and so it allows you to add more data so what we're gonna do so
what we're going to do is we're going to add November in here and let's let's say
assume that the balance is the same and the interest is the same
and so then let's say we're only gonna put a $600 payment on this and it
purchases is 390 and so if you drag down the number of months you'll get 29 now
if you look on the charts here you've now added November so because it's in a
table the the charts are all dynamic whatever you add here it's now going to
be displayed in these in these graphs that you have going so let's show you
how I did it the information from from basically your credit card statement or
whatever and you're going to put it on in there and so I've got all the stuff
here the headings here now so what I'll do is I'll just copy the what I've done
is I've copied the information from Jun over to the the next sheet here and now
I'll show you how you calculate the number of months this is the end / this
is the end / formula and so what you're gonna do is you're gonna go equals is
the first thing as you go and pers and then you go the interest on this credit
card is 19% so you go point one nine nine nine and then you divide it by 12
so that's your interest rate and then we're gonna select our payment and then
we're gonna select the balance and now the balance is negative because we're
trying to pay it off because it's outstanding as opposed to trying to save
it so what we'll do is negative and then
we'll select the balance we'll put a bracket on it and they'll press Enter
and there you have your number of months now the whole trick to this is you need
to select it and we're gonna insert we're gonna insert a table my dad data
has my table has headers and CA okay so there we go
and we'll just minimize this because it gets too wide we will insert the rest of
the aisle rows and then I will show you how to do the graphs so now I have the
rest of the data in here so what I'm gonna select is I'm gonna select I'm
going to select the month and the balance and then I'm gonna go insert on
the menu bar and let's go recommend charts and I would like I would like a
line so there there you go I'd say okay so there's our balance so we've got that
one done now so we'll just bring it down a little bit the next one I did was I
selected the payments the Mountaineer Bank paying a month and then I press the
control key and then I selected the number of months the payments and the
number of months and then I'm gonna go to my line line graph here and I'm gonna
get the 3d cuz I think it looks nice and there you go that's that's your
payment's relative to your number of months the last one I did is I selected
the months and the purchases and then I went and to insert and I'm gonna do a
graph and we're gonna go like this and so there you go there's your purchases
you can see you can track how much you're spending on this this chart will
be available if you email me I will leave my email on on the description
below so use this to pay off your debt or your credit cards please subscribe