Paying off one account at a time is not good for your credit score. Now there is a better way.
This tool plans out your debt payoff with all the standard options, Snowball (smallest balance), Avalanche (highest APR), largest balance, custom priority, but now a new method. Credit Score Focus™ plans payments around the key thresholds of credit utilization that the credit bureaus are watching for. 70%, 50%, 30% and 10%. Simply load in your account information and select Credit Score Method. The tool recalculates the account ranking based on credit utilization (each month) and puts your additional debt payment where it can have the biggest effect on that threshold. The tool shows the date of your next milestone, and estimates the expected credit score improvement. There is no more advanced debt payoff sheet out there, and there is no faster way to improve your credit score while paying off your debt.
Additional Features:
• New with version 1.2- Works with Microsoft’s free online version of Excel.
• New with version 1.1- Complete Milestone Sheet. Chronological listing of all accounts as they pass all credit utilization thresholds (up to 55 events possible), for maximizing positive reinforcement and using your subconscious to help keep you moving toward the finish line.
• Separates revolving credit (credit cards), from your term loans (car, student and personal loans).
• Optional minimum payment calculation, to reduce your planned payment as your balance decreases.
• No macros or array formulas (capable to run on much older versions of Excel as well as 365)
Also included:
• Future View, to see your financial situation at any month / year in the future, until all balances are paid.
• Payment Tracker for any year in the plan, can be printed and written on or checked off on-screen.
• Comprehensive guide.
• New with version 1.1- Sample Sheet. 3 sets of randomly generated account information, for those who want to just copy & paste into the tool and watch the magic happen.
Please Note:
• This is a digital download and not a physical item. As such, refunds are not available after purchase. Please as me any questions you may have before purchasing.
• The file purchased and its design is copyrighted by Pete’s Sheets. It is or personal use only. No part of the file can be distributed, sold, reproduced, duplicated or used in any form without the express, written consent of the author.
• The file is provided ‘as is’ and for informational purposes only. It is not intended as financial advice, investment guidance, or an offer or solicitation for the purchase or sale of any financial instrument. The accuracy, completeness, or timeliness of the information contained in this template is not guaranteed. Users should seek the advice of qualified financial professionals before making any financial decisions based on this template. Pete’s Sheets will not be liable for any errors, omissions, or losses, injuries, or damages arising from its display or use.
This sheet is also available on Etsy.
Reviews
There are no reviews yet.