Is there a way to utilize the Debt Planner sheet to determine how much you need to pay in order to payoff a debt by a certain date? Example: pay off balance in 90 days to avoid interest. How much do I need to pay to do so?
Thanks
If you’re trying to optimize monthly payments based on a payoff target date, I would recommend trying the Savings Goals and Debt Payoff Tracker Spreadsheet. In your case there are two options. You could set up a savings goal for the debt, accumulating savings in a category, and then applying that savings to your debt payoff transaction. You could also create a category using the name of your debt account and classify it as “debt”, and set 0% interest and the target date. Either way, the spreadsheet will recommend a monthly budget to put towards your goal. Both options make use of the Foundation template and Savings Budget sheet.
Great recommendation, @cculber2.
Yes, @cgconeal, as Curtis said, that sheet is built for your stated need.