And Went on to Pay off over $150,000 of Debt in Just 3 Years to Become Debt Free!
Proven to Organize Your Finances Fast & Help You save Money!
- Helps you create a clear plan for your financial future so you can enjoy financial freedom much, much sooner.
- Quickly and easily map out your finances andinstantly see the horrifying and often surprising expenses that kill your bank balance so you can fix the leaks for animmediate impact on your financial situation.
- See where and how to save money so you can take back control of your finances and say goodbye to the stress and anxiety of a paycheck to paycheck lifestyle caused by not keeping a budget.
- Instantly test how making small changes to your daily expenses create life changing differences to your future so you canreign in your finances and hit your financial goals, guaranteed!
- Make light work of maintaining and tracking your money so you can spend more time enjoying life and focus on the things that matter most to you.
- Weekly tracking means you cancorrect your course before an overspending tragedy happens and the early warning makessticking to your budget a breeze which means hitting your financial goals will be easier than ever before.
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Get Access To This Budgeting Spreadsheet & Kick Stress To The Curb!
Start fixing up your finances in no time! This spreadsheet tracks your cash quickly and easily. You’ll see exactly where your money is going and know where you need to fix any problems. Don’t delay, the sooner you start the sooner you’ll be able to do away with the stress and anxiety that comes with having your finances out of control!
Check out what one of the readers of my blog had to say about this spreadsheet.
She emailed me in December 2017 to tell me what a massive difference this had made to her finances…
Elizabeth Maersk
If it weren’t for your spreadsheet, My husband and I wouldn’t be paying off around 22k of debt and helping us also put money aside in emergency cash. We didn’t have to ask family for a loan 2 wks back when our suv broke down. We paid for the parts ourselves and fixed it. We wouldn’t have been able to do that if I hadn’t ran into your blog and got the spreadsheet. Every budgeting sheet i tried before never helped. So Thank you for providing the tools we needed. I found and started the spreadsheet on July 21st 2017 and in March 2018 We will be 100% debt free!
…and then updated me again in March 2018 to tell me she was debt free!
I thought I would update you since the last time we emailed! I’m happy to say We have paid off everything with the exception on on credit card of $4000 We have added it up And we have paid off around $24000-$25000 after this last Credit Card is paid off. I can’t thank you enough for the tools you have given me to help my family become debt free in 8 months! Thank you so Much!
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I’m so confident this spreadsheet will pay for itself I’m going to offer you a money back guarantee. If you plug in your financial figures into this spreadsheet it will help you see more clearly where your money is going and give you a clear picture of where you need to make changes to get to where you want to be. If it doesn’t do that within 30 days, I’ll give you your money back!
About Me
Hi there, I’m Lloyd Phillips, I run a blog called The Extra Income Project. In 2014 I was drowning in debt. I was missing bills and incurring penalties on late payments.
Under the stress and pressure of getting on top of my finances I tried every budgeting system under the sun to get my finances organized but nothing worked!
Eventually I created my own spreadsheet system that was both simple to use but powerful. It helped me regain control of my finances fast. As soon as I started using this spreadsheet I was able to start fixing my finances with ease.
Within 6 weeks I had paid off $5,000 of debt. Three years later I’d cleared $150,000 of debt to become debt free. A year after that, my partner and I were buying a house together.
Being successful with money starts with being organized with your cash and knowing where it’s going.
This spreadsheet will get you on top of your finances and help you do away with the stress and worry that comes when your finances are out of control!
FAQs
About this template
Effortlessly plan your money by allocating 50% of your income to essentials, 30% to discretionary spending, and 20% to savings or debt repayment. Using this simple budgeting tool, you can achieve a more balanced financial life, and reduce unnecessary expenses.
What is the best budget template? ›
Mint is absolutely FREE and by far our favorite hands-off budgeting template. If you want to automatically track your spending, know what your monthly cash flow is, and reach your financial goals, then Mint is the perfect budgeting solution for your budgeting needs.
What is the 60 20 20 budget? ›
If you have a large amount of debt that you need to pay off, you can modify your percentage-based budget and follow the 60/20/20 rule. Put 60% of your income towards your needs (including debts), 20% towards your wants, and 20% towards your savings.
How long will it take to pay off $30,000 in debt? ›
It will take 41 months to pay off $30,000 with payments of $1,000 per month, assuming the average credit card APR of around 18%. The time it takes to repay a balance depends on how often you make payments, how big your payments are and what the interest rate charged by the lender is.
How to get rid of $30,000 in debt? ›
Get in touch with a debt relief service
And, debt relief services typically help you in one of two ways: debt consolidation or debt forgiveness. If you choose a debt consolidation or debt management program, experts will typically try to negotiate your interest rates and payment terms with your lenders on your behalf.
What does a 50 30 20 budget look like? ›
Those will become part of your budget. The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.
What is one negative thing about the 50 30 20 rule of budgeting? ›
Some Experts Say the 50/30/20 Is Not a Good Rule at All. “This budget is restrictive and does not take into consideration your values, lifestyle and money goals. For example, 50% for needs is not enough for those in high-cost-of-living areas.
Is the 50/30/20 rule realistic? ›
The 50/30/20 rule can be a good budgeting method for some, but it may not work for your unique monthly expenses. Depending on your income and where you live, earmarking 50% of your income for your needs may not be enough.
What does a good budget spreadsheet look like? ›
Set up the spreadsheet
You can generally make it as simple or detailed as you want. At a minimum, you might want to create one category for your total income and another for your total expenses. Then underneath those categories, you could create subcategories to list your types of income and expenses in detail.
What is the simplest budget system? ›
1. The zero-based budget. The concept of a zero-based budgeting method is simple: Income minus expenses equals zero. This budgeting method is best for people who have a set income each month or can reasonably estimate their monthly income.
Oh My Dollar! From the radio vaults, we bring you a short episode about the #1 most important thing in your budget: your values. You can't avoid looking at your budget without considering your values – no one else's budget will work for you.
What is the 70 rule in budgeting? ›
The 70-20-10 budget formula divides your after-tax income into three buckets: 70% for living expenses, 20% for savings and debt, and 10% for additional savings and donations. By allocating your available income into these three distinct categories, you can better manage your money on a daily basis.
What is the 80-10-10 rule? ›
When following the 10-10-80 rule, you take your income and divide it into three parts: 10% goes into your savings, and the other 10% is given away, either as charitable donations or to help others. The remaining 80% is yours to live on, and you can spend it on bills, groceries, Netflix subscriptions, etc.
What is the 70-20-10 budgeting method? ›
Maybe you're someone who wants to know how to manage your money, but you don't want to be bogged down by micro-management. The 70-20-10 budget refers to the percentage of your take-home pay that you devote to each of three major categories: spending, saving, and giving. That's it.
What is the formula for payoff amount? ›
You can calculate a mortgage payoff amount using a formula. Work out the daily interest rate by multiplying the loan balance by the interest rate, then dividing that by 365. This figure, multiplied by the days until payoff, plus the loan balance, gives you your mortgage payoff amount.
What is the formula for loan payoff? ›
Divide the interest rate you're being charged by the number of payments you'll make each year, usually 12 months. Multiply that figure by the initial balance of your loan, which should start at the full amount you borrowed.
How long will it take to pay off $20,000 in credit card debt? ›
It will take 47 months to pay off $20,000 with payments of $600 per month, assuming the average credit card APR of around 18%. The time it takes to repay a balance depends on how often you make payments, how big your payments are and what the interest rate charged by the lender is.
What is the formula for payoff in finance? ›
To calculate the payoff on long position put and call options at different stock prices, use these formulas: Call payoff per share = (MAX (stock price - strike price, 0) - premium per share) Put payoff per share = (MAX (strike price - stock price, 0) - premium per share)
