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

(103 Posts)

MNHQ have commented on this thread. Read here.

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

And then on a thread this evening, somebody asked about how to explain the risks of an interest only mortgage
so I wrote this

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

BooksandaCuppa Sat 23-Mar-13 22:09:31

Good stuff, Talkin

rhondajean Sat 23-Mar-13 22:10:42

This is a brilliant resource MNHQ

Thanks, that's really interesting. smile very useful.

Have you considered turning it into an iphone/android app?

Talkinpeace Sat 23-Mar-13 22:41:01

a tad technical for me!
and actually those sheets are best on a big screen - seeing the interest keep clocking up down to row 498 is quite sobering ....

Talkinpeace Sun 24-Mar-13 16:56:07

Delighted to see that so many people are using the sheets
but please try to ONLY put stuff in the highlighted boxes .....

rhondajean Sun 24-Mar-13 19:36:25

Could people save them to their own desktop perhaps before inputting data?

I'm going to alert mnhq to this thread tomorrow and see if they can put a downloadable version somewhere if you are happy with that?

Talkinpeace Sun 24-Mar-13 22:48:31

I think it can be downloaded - I have no problem with that except that so long as it stays on the Goggle drive I can check that the formulae stay right.
And actually, playing with different numbers is interesting for all users to see ...

rhondajean Sun 24-Mar-13 23:34:47

Ah right sorry! My pc is playing up - some memory issue - so I've been stuck on iPad.

Talkinpeace Thu 02-May-13 21:52:53

In light of the current news story about Interest Only Mortgages, just bumping my thread

Talkinpeace Sun 19-May-13 14:32:27

formula over types corrected ...

Talkinpeace Sat 25-May-13 14:37:56

and delighted to see that people are putting their numbers in to see the impact of overpayment of debts

Talkinpeace Wed 26-Jun-13 22:54:52

just for DiscoDonkey

Talkinpeace Fri 05-Jul-13 17:44:06

bump for monkeychops

TheDoctrineOfAllan Fri 05-Jul-13 22:55:04

That's so cool of you, TP.

al88 Sun 07-Jul-13 12:33:31

Hi Talkin. Just wanted to say thanks for this. Its awesome! thanks

Talkinpeace Sun 07-Jul-13 16:46:38

please feel free to download, share, link, anything you like.
I'm not in the least precious about them,
I regard them as a force for good
(a bit like my Ebay me page which I gather the HMRC now refer to!!!)

if you can think of a scenario I've missed, please let me know as I can either write a new sheet or add it in ...

Fluffycloudland77 Sun 07-Jul-13 17:15:21

Thank you, very interesting.

Talkinpeace Thu 11-Jul-13 09:30:05

There is a discussion in credit crunch about budgeting.
I'm happy to write a sheet that people can play with, but suspect that it will be more to download than post figures online.
on the other hand it could be fun to allow people to add a column and compare themselves (utterly anonymously) with others ...
your thoughts?

frissonpink Thu 11-Jul-13 12:25:02

I would love a budgeting sheet! grin

FasterStronger Thu 11-Jul-13 12:33:46

excellent, I love a good spreadsheet.

Yoghurty Thu 11-Jul-13 12:39:46

This is great, thanks so much for taking the time to do this.
I'm going to sit down with it tonight- eeek!

Talkinpeace Thu 11-Jul-13 13:37:40

Okey dokey, before I start juggling

His salary / freelance earning (after tax)
Her salary / freelance earnings (after tax)
Child benefit
Tax credits
Maintenance / CSA income
Savings / investment income (after tax)
Rental income (after tax)

Outgoings: Unavoidable ...
CSA payments
Maintenance Payments
Rent / Mortgage
Endowment / Life insurance
House insurance
Council tax
Car tax
Car insurance

Outgoings : Adjustable
Water bill
Gas bill
Electric bill
Oil / wood bill
Food shopping
School uniform / shoes
School trips and extras
Basic toiletries and cleaning products
Car fuel

Outgoings : Capital spend
House maintenance
House decorating
2 week holiday per year

Outgoings : Optional
Adult clothes
Monthly meal out

Outgoings : Luxuries
Overseas travel
Cleaners or domestic staff (including ironing)
Coffee and lunches out
Amusement parks etc
Private health insurance
School fees

what have I missed / misallocated

caramelwaffle Thu 11-Jul-13 13:43:49

Good idea

Talkinpeace Thu 11-Jul-13 13:44:49

I forgot pets ..... grin

frissonpink Thu 11-Jul-13 13:54:06

Phones? (or have I missed it!)

Boiler insurance grin

Properly Management Fees (in my case booo)

Talkinpeace Thu 11-Jul-13 14:03:46

thats why I always ask for input ....
first draft will be up shortly

RobotBananas Thu 11-Jul-13 14:05:26

Fantastic thread - marking for later

Talkinpeace Thu 11-Jul-13 14:34:05

Here you go,
have a look and a play and comment here
I'll do corrections this evening

frissonpink Thu 11-Jul-13 15:15:12

ooh going to steal and try and sort out our non existent finances! grin

soo wish i could use excel it baffles my brain!

Talkinpeace Thu 11-Jul-13 16:34:01

*frisson : pop your numbers in : if you change the date at the head of "your column" you can play with it.

frissonpink Thu 11-Jul-13 17:17:57

I shall go and have a go now ooh excited!

Talkinpeace Mon 22-Jul-13 11:10:56

bumped just for mum2fergus

Mum2Fergus Wed 24-Jul-13 20:07:46

Thank you!

Sleepyhead33 Fri 26-Jul-13 07:48:56


Talkinpeace Sat 27-Jul-13 19:49:47

for Sillydecisionmaker on Money Matters

Talkinpeace Tue 30-Jul-13 14:02:33

bump for nkf

FuckItLifeIsTooShort Sat 03-Aug-13 08:15:52

These are great, what is the eBay page you referred too? I have some items I want to try selling and wonder if it helps to calculate costs.

bamboostalks Sat 03-Aug-13 19:37:59

Thanks for this, v kind of you and empowering too. Also interested in eBay stuff?

Talkinpeace Sat 03-Aug-13 19:41:19

my ebay page is the only reason the pinks (now blues) always chickened out of banning me
its the small business bible : checked over many many years by many many accountants

SoftKittyWarmKitty Mon 05-Aug-13 18:16:25

Ok, I think I'm being a bit thick but on the budgeting spreadsheet, do I put my figures in the next available column? How do I get rid of other people's info (no offence smile)? Also, is it annual or monthly?

There's no allowance on there for Christmas spending, birthday presents - not sure if that should be on?

Talkinpeace Mon 05-Aug-13 18:40:02

I'd rather everybody added theirs in so that we can learn from each other

oooh, presents YUP forgot them

annual is easiest but monthly is fine

I've no problem with people downloading it to their own machines by the way

For those of us (me) who are a bit hard of thinking, how do I download it?

Talkinpeace Mon 05-Aug-13 19:39:51

"download as"


<<dickhead emoticon>>

Talkinpeace Mon 05-Aug-13 19:50:28

no worries
its more important to me that people take hold of their finances and stop the bankers ripping us all off

DoubleRainbow Mon 05-Aug-13 21:25:52

Hi, thanks for this.

can you add in credit card payments and broadband/tv, tv licence?

Talkinpeace Mon 05-Aug-13 21:34:35

debt repayment interset is in "unavoidable"
what you buy with the credit card goes in the appropriate area

broadband / TV - can go in with phone but yes, will adjust

Talkinpeace Mon 05-Aug-13 21:39:21

that should be better

It's a great spreadsheet. Sadly I find it impossible to do a proper budget as I have a massively variable income. But having put the figures in I now know how much I need to earn each month. (And usually don't.) sad

kaosak Mon 05-Aug-13 22:13:25

Interesting spreadsheet thank you!

Few people have entered their details but seem to have left half the columns empty? Can't believe some don't have any outgoings whatsoever grin!

Talkinpeace Mon 05-Aug-13 22:16:57

many others have downloaded iit
and others (I am the owner so can track the edits) have gone till the number at the bottom gets to zero grin

kaosak Mon 05-Aug-13 22:21:21

I am a total dimwit, is the number at the bottom the amount you should be left with after all your outgoings? <crap with money emoticion>

Talkinpeace Mon 05-Aug-13 22:24:39

sorry, yes ....

I set it out like that so that you put in your income and then the outgoings that are more and more discretionary as you go down ....

moomoo1967 Thu 08-Aug-13 13:42:13

unfortunately I cannot access it, it gives me the message that it is unavailable

Talkinpeace Thu 08-Aug-13 15:04:58

all three are open on my machine ....
try again, just click the links

moomoo1967 Fri 09-Aug-13 09:04:56

I have lol it just says "internet explorer cannot display the webpage" we can only use internet explorer in work but I have googlechrome at home so may have to wait until I get home

Talkinpeace Tue 27-Aug-13 21:56:43

bumped for bennismum

cozietoesie Wed 28-Aug-13 19:29:56

One of the great resources, Talkin.

Talkinpeace Fri 30-Aug-13 16:37:53

Just a quick message to ANYBODY looking at buying a house

Look long and hard at these charts
before you get involved in ANY of Gideon Osborne's harebrained schemes to inflate house prices ....

UK houses are still overvalued.
DO NOT overstretch yourself
Make sure you can afford your mortgage at 2% more than today
make sure you have capital repayment in place

Talkinpeace Wed 18-Sep-13 13:16:04

just bringing this up to the top in the runup to Christmas : check before you spend ...

Talkinpeace Wed 02-Oct-13 19:55:35

well that was fun.
I log into the sheets every now and then to check they are working OK and somebody had tried to overtype lots of the formulae on one of them and broken chunks of it for other people.
Please don't.
You are welcome to download and play with them on your own computer, but please do not damage the public sheet.

Talkinpeace Tue 15-Oct-13 21:20:23

bump for greta grape

Talkinpeace Fri 25-Oct-13 14:47:03

both main spreadsheets checked and OK.
If anybody wants any adjustments, additions done, do please say :-)

Talkinpeace Tue 29-Oct-13 20:39:15

bump for southeastastra on the money board

RandomMess Tue 29-Oct-13 20:43:25

Can't you password protect them apart from the cells where people enter in amounts?

Talkinpeace Tue 29-Oct-13 20:45:10

oh dear - has somebody broken them again ...

I like to let people download them so did not make the protection too heavy!

googledocs is not great at cell protection : openoffice and excel are much niftier

will check :-)

RandomMess Tue 29-Oct-13 20:51:04

Ah it was merely a suggetion, I only use excel so assumed it would work like that - LOL!

Talkinpeace Tue 29-Oct-13 20:54:52

phew, all three are OK

if I open them on my machine in Openoffice or Excel they have all sorts of pretty protection that goes phtang when I load them onto the public drive

but I check them every now and then so it seems they are doing the job !

southeastastra Tue 29-Oct-13 21:02:37

oh my, i'll be paying this off until 2021 at this rate sad

southeastastra Tue 29-Oct-13 21:10:01

thanks for this, i now see what a muppet i've been

RandomMess Tue 29-Oct-13 21:11:47

Worth switching the balance to an a low rate one???

southeastastra Tue 29-Oct-13 21:19:52

have done with already random but can only transfer a small amount, hopefully that will go up in time and i can transfer more.

serves me right really, i know it's no defence but i have a year out of work and it just snowballed from there.

Clargo55 Tue 29-Oct-13 21:21:40

Thanks OP, this is a great resource. Love spreadsheets.

Talkinpeace Tue 29-Oct-13 21:32:20

if you are paying £123 this month, pay £123 every month - do not reduce the amount as the balance drops .... see what happens overall .... you'll save a fortune

southeastastra Tue 29-Oct-13 21:34:56

if anything i try to pay as much over as i can, i never pay the minimum and always try to go over when i can. i am bit worried about though as we also have a mortage shortfall due in 2017. should i see a financial advisor to go through everything?

RandomMess Tue 29-Oct-13 21:39:50

Well it shouldn't cost you anything to see an advisor, they could go through your options with them. Could you remortgage or something do you think?

Talkinpeace Tue 29-Oct-13 21:39:52

check out the mortgage sheet to test your options

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

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

all three sheets checked as working properly ;-)

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

bump for thehomeoflondonpantomime

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 Thu 21-Nov-13 12:42:44


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


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

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

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

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

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

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 Mon 30-Dec-13 21:00:49

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

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

bump for balroymum

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 17:47:03

is your credit card debt £400?

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 ...

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


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 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 :-)

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

Marking place for later - thanks.

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

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

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

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

a new sheet for people to download
and put in their actual weekly / monthly figures to help them
a) stay out of debt
b) get out of debt

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

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

That would be a very good idea I think

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


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


<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!

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

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

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