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Debt Calculator

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75 views4 pages

Debt Calculator

a

Uploaded by

Amara N S
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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EXCEL-SKILLS.

COM

DEBT CALCULATOR TEMPLATE


This Excel template has been designed to assist consumers in determining whether they are over indebted. The DebtCa
which enables users to specify their monthly income, salary deductions, expenses and debt repayments and automaticall
shortfall. If the net result of the calculation is a monthly shortfall, it means that the consumer is over-indebted.
View all our unique templates!
This free template forms part of our unique range of innovative Excel templates which features accounting in Excel, fi
cash flow projections, business valuations, fixed assets, costing & inventory, monthly payroll and a lot more.

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enable editing to activate the link


er indebted. The DebtCalculator sheet contains a simple calculator
yments and automatically determines the user's monthly surplus or
over-indebted.

accounting in Excel, financial statements, management accounts,


d a lot more.
Excel Skills | Debt Calculator Template
Instructions
www.excel-skills.com

How to determine whether you are over indebted

In order to determine your debt status, you need to take all the income that you earn (combined with your spouse if you are married), deduc
your monthly salary deductions, deduct all your monthly expenses and deduct all your monthly required debt repayments. If the net resu
this calculation is a negative monthly amount, your debt status is that you are over indebted.

The debt calculator

This Excel template has been designed in order to assist consumers in determining whether they are over indebted. The DebtCalculator s
contains a simple calculator which enables users to specify their monthly income, salary deductions, expenses and debt repayments
automatically determines the user's monthly surplus or shortfall.

Note that all amounts should be entered on a monthly basis and all values should be entered as positive amounts. Only the cells that req
user input will be available for editing.

Once you have entered all the required monthly amounts, the template automatically calculates your monthly surplus or shortfall. If the
result of this calculation is negative, it means that you are over indebted. This means that you are unable to meet all your debt obligations.
will most likely not qualify for further debt (and you should think carefully before applying for more debt) and you will need to take actio
order to reduce your debt!

If the net result of your monthly input is a positive amount, your debt status is that you are not over indebted. Make sure that you have ent
all your monthly expenses and all your debt repayments. If you have, it means that you have money left at the end of each month and that
therefore do not have a serious debt problem. If however your income does not exceed your expenses & debt repayments significantly,
should not even consider taking on more debt!

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Debt Calculator interest rate
All amounts should be entered on a monthly basis and only positive values are accepted.
© www.excel-skills.com
Income Calculation Summary
Gross Monthly Salary 100 Total Income 100
Total Allowances - Less: Total Salary Deductions -
Total Subsidies - Net Remuneration 100
Commission (Monthly Equivalent) - Less: Total Expenses -80,000
Other Income - Available for Servicing Debt -79,900

Deductions Less: Total Debt Repayments -


Income Tax - PAYE - Total Monthly Surplus / (Shortfall) -79,900
UIF -
Medical Aid -
Pension Fund Contributions -
Garnishees -
Other Salary Deductions -

Expenses
Vasanna Loan 50,000 4.5
Manju Loan 30,000 3
dharmastala sanga -
Telephone / Cell / Internet -
Insurance - Short Term -
Insurance - Life -
Medical Expenses -
School & Other Education Fees -
Transport / Vehicle Costs -
Domestic & Gardening Services -
Bank Charges -
Clothing -
Groceries -
Security Costs -
Maintenance Payments -
Total Other Monthly Expenses -

Monthly Debt Repayments


vasanna loan -
Vehicles -
Credit Cards -
Personal Loans -
Accounts -
Total Other Monthly Repayments -

Page 4 of 4

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