Debt Planner: Payoff Month Not Calculating Correctly

Honestly, if it were me, I’d insert the column and see if the numbers changed.
That’s usually a pretty quick & practical test. :wink:

I’ve used the vertex excel sheet for years. It’s helped me manage and conquer over $40k in debt in a couple years as a bachelor. I’m using it again to manage my last remaining few thousand and my wife’s couple thousand. We are using it starting last month to pay off $10k by Nov hopefully, over 11 accounts. I’ve tried to get tiller to be able to do what I want with debt but sadly it just can’t yet. Tiller is phenomenal but that vertex template is hard to beat.

One day someone will make a Tiller formula that rivels that excel template. I’ve definitely been trying.

1 Like

@Chadsey which template are you using there are several?

Hey everyone!

I might have a fix but it will require a little testing…

I just built a new version of the Debt Planner template. You can view it here. Rather than using some overly-clever assumptions, this new version brute forces the analysis by running down the accounts month by month. I haven’t done too much testing yet but this approach (once vetted) will better handle the troublesome scenarios we flagged above.

Would anyone be willing to take it for a spin?

Just open the view-only template, manually copy it into your spreadsheet, and see if the results make sense for your portfolio. (You can run it in parallel with the original version.)

I’m confident in the approach, but I haven’t had a chance to test it thoroughly.

Once we’ve got this a little more buttoned down, I can replace the master in the Tiller Money Labs add-on.

Thanks for your help on this.

P.S. I removed the total remaining interest payment since my initial efforts weren’t working on that feature. Let me know if it is important to you.

The Feb budget doesn’t populate, And I cant get the payoff months to be correct consistently, Some are correct in Avalance Method (Higher Blanance) and some are correct in the snowball method (lower Balance). It still doesn’t take into account a steady monthly payment and the rest only changes if you add in extra money.

Thanks for giving this a quick test, @mmgalliv

A few updates to the shared sheet

  1. I fixed a problem with the “February Budget” values populating.
  2. I fixed a problem with “Total Feb Budget” populating.
  3. I added a simple Transactions sheet with examples for how actuals can be plumbed into the template in the current month.

If you manually replace the version you just pulled in with the latest version, I’m hoping the initial problems you noted should be resolved. If they are not, check that the column letters are populating properly in the hidden area in P, R and T as below…

As for your note about “cant get the payoff months to be correct consistently”… this is absolutely possible, but can you tell me what you are comparing the values in the spreadsheet too? What are you using to validate the model?