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Cost of credit cards and mortgages .... the spreadsheets

(103 Posts)

MNHQ have commented on this thread.

Talkinpeace Sat 23-Mar-13 22:07:13

A while ago I wrote a spreadsheet to help a client understand that if he bought a Bugaboo on his credit card he'd still be paying for it when the child started University

here it is
https://docs.google.com/spreadsheet/ccc?key=0AiZqlQ7-gn07dHRoTXA5Qnlld25UWkw1TEhZZk9IYVE&authkey=CMjc4JEB&authkey=CMjc4JEB#gid=0

And then on a thread this evening, somebody asked about how to explain the risks of an interest only mortgage
so I wrote this
https://docs.google.com/spreadsheet/ccc?key=0AiZqlQ7-gn07dDN4clg5OXhLMGJWbHZhOEo4UTJINEE#gid=0

Enter your figures into the highlighted boxes and the sheets do the rest ....
I check them every few weeks and correct any glitches ...

TalkinPeace Sat 01-Feb-14 22:33:10

RowanMumsnet
No worries : this board is comparatively quiet and so long as I do not get reported for bumping the thread : I may start a new one
then I'm happy to do the hard work
I had the same issue with my Ebay Me page when James the Pink left and his successor lost the pin on it grin

RowanMumsnet (MNHQ) Sat 01-Feb-14 20:42:08

TalkinPeace

dear MNHQ
if I link all four spreadsheets into an OP, would you be able to pin it to the top for everybody to find easily?
xx TiP

Hello

<spreadsheet envy>

We always reserve 'sticky' threads for official MNHQ business, because as soon as we step off that path we run the risk of appearing to be picking favourites from the board, which as you can imagine would quickly lead us into deep water. We know that these spreadsheets are very well-used though so we'll have a think about how we might be able to highlight them better.

We'll come back when we've got something more useful to say!

NoelOfLorst Sat 01-Feb-14 13:22:44

That would be a very good idea I think

TalkinPeace Sat 01-Feb-14 12:36:28

dear MNHQ
if I link all four spreadsheets into an OP, would you be able to pin it to the top for everybody to find easily?
xx TiP

TalkinPeace Mon 27-Jan-14 14:00:13

Taddahhh
a new sheet for people to download
https://docs.google.com/spreadsheet/ccc?key=0AiZqlQ7-gn07dFRwOFJENmVzX1RHR05UMGtIYkltcWc&usp=drive_web#gid=0
and put in their actual weekly / monthly figures to help them
a) stay out of debt
b) get out of debt

TalkinPeace Sun 26-Jan-14 12:47:10

bump because there are a couple of credit card threads live at the moment ...

LulaPalooza Sun 19-Jan-14 23:29:49

These are simply brilliant, Talkinpeace, thank you so, so much!

will download tomorrow as I'm on my Samsung at thr moment.

This is exactly what I need to work out our debt repayment plan. I've been managing my debts for years, just get to pay something off then something tips us back over again, like bouts of unemployment. But we're both working in stable jobs now.

Thank you. Xx

hallamoo Sun 19-Jan-14 22:27:31

Marking place for later - thanks.

TalkinPeace Sun 19-Jan-14 22:20:52

I can amend it to show sum of the digits : I have the formula ...

but straight line is an easier comparison against IO

I'll have a play with it midweek if I get a minute :-)

PigletJohn Sun 19-Jan-14 22:18:31

talkinpeace

looking at the mortgage spreadsheet, where you are making level monthly payments which include an element of capital repayment, the 'sheet shows equal amounts of interest and capital in each month, although in fact the interest is calculated on the declining balance, so each month the proportion of your regular payment allocated to interest reduces, and the proportion allocated to Capital increases.

It is however a tiresome calculation to code.

TalkinPeace Thu 16-Jan-14 17:47:50

on each statement it will say what the automatic minimums are ....
have a look at the sheet now ...

TalkinPeace Thu 16-Jan-14 17:47:03

is your credit card debt £400?

iloveithere Thu 16-Jan-14 17:43:12

are you sure this is correct???
I put in £400 and if I pay the minimum the bank makes £5881 over 32.67 years, if I pay the fixed minimum the bank makes £65940!!!
and if I pay triple the minimum it takes as long as if I pay double the minimum?
I don't understand it.

TalkinPeace Thu 16-Jan-14 17:28:41

bump for balroymum

TalkinPeace Mon 30-Dec-13 21:00:49

bump for blushing .... budget sheet is on page 2

TalkinPeace Wed 18-Dec-13 22:22:16

bump for williamena to she can check her figures and see how to become debt free

Talkinpeace Sat 07-Dec-13 22:08:03

just hauling up to the top of the board in time for those christmas bills ....

Talkinpeace Fri 29-Nov-13 14:00:52

bump for Mummypig24 on the Chat thread about what people spend their wages on ...

Talkinpeace Mon 25-Nov-13 11:50:27

The big columns of numbers are not needed but by golly they bring it home to people how credit card companies make their money

and why interest only mortgages are potentially really dangerous.

I'll have a tidying up session on the budget one in the next few weeks.
All feedback welcome

waikikamookau Mon 25-Nov-13 08:40:58

wow

Talkinpeace Thu 21-Nov-13 12:42:44

thanks

KateSycoraxMumsnet (MNHQ) Thu 21-Nov-13 10:39:24

<blinks confusedly at numbers> That is v impressive and I understand none of this. This could explain why I'm perpetually skint.

We're just going to move this to Money Matters as it's a v useful resource and sure it would be handy to people looking in that topic for money saving tips.

Talkinpeace Tue 19-Nov-13 13:51:40

bump for thehomeoflondonpantomime

Talkinpeace Tue 12-Nov-13 18:14:10

all three sheets checked as working properly ;-)

southeastastra Tue 29-Oct-13 22:01:26

will definitely have to up the mortage payment, what's mad is that we would be on track to pay it off it i hadn't got the cc

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