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

[Talkinpeace]

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
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
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 ...

Good stuff, Talkin

This is a brilliant resource MNHQ

Thanks, that's really interesting. very useful.

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

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 ....

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

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?

Rhonda
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 ...

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

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

formula over types corrected ...

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

just for DiscoDonkey

bump for monkeychops

That's so cool of you, TP.

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

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!!!)

AND
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 ...

Thank you, very interesting.

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?

I would love a budgeting sheet!

excellent, I love a good spreadsheet.

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

Okey dokey, before I start juggling

Income:
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
Cars
2 week holiday per year

Outgoings : Optional
Adult clothes
Makeup
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

Good idea

I forgot pets .....

Phones? (or have I missed it!)

Boiler insurance

Properly Management Fees (in my case booo)