Debt Planner - Projected Debt Freedom Date Not Updating Correctly

Google Sheets
1

Hello!

My projected debt freedom date with only the minimum payments being paid monthly (which is also my budget amount for the debts) is Mar 2025.

When I enter an additional amount of $4000, my date changes to Feb 2021…which cannot be correct based on my total debt of over $32k.

Anyone have a suggestion on how to correct this?

Thank you.

2

Hi @moneyork , sorry for the late reply here.

I think some other folks are chatting about this via this topic. Hopefully that will help. Feel free to chime in with some example configuration and/or screenshots on that topic since it already has a lot of activity:

4

That sounds suspicious, @moneyork.

We learned a few things working through issues recently in this thread:

  • Make sure to add Interest Rates in column B even if the interest rate is 0%.
  • The calculations don’t work great with zero-interest loans when the min monthly payment is greater than $0.

I agree that a screenshot would be helpful. Feel free to redact any sensitive information.