How to Create a Credit Card Payoff Spreadsheet in Excel

In this video, I'll guide you through two methods to create a credit card payoff spreadsheet in Excel. You'll learn about creating a credit card payoff spreadsheet manually and using Microsoft template.
Creating a credit card payoff spreadsheet can be used to track your progress, create a budget, and stay motivated. With practical examples and step-by-step instructions, you can effortlessly make a credit card payoff spreadsheet in your own Excel spreadsheet.

👨‍🏫 Instructor: Shahriar Abrar Rafid
🎥 Editor: Mohammad Ullah

▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬
0:00 - Intro
1:22 - Creating a credit card payoff spreadsheet manually
9:12 - Using Microsoft Template

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[Orcanian]

Great video works perfectly. Thanks for sharing.

[Stephen_]

Hello, I'm not sure I understand why for E5 we subtract the payment without interest to get our "Initial Balance". Wouldn't our initial balance just be in this case =H4 because that's the starting amount that we owe? Or do we subtract of the payment because we're paying before the interest is applied? Thanks in advance

[elektronikc]

Hello! Thank you, as I was able to create a spreadsheet for help with my credit cards. However, when I go to reduce the payment amount I get an error in the No of Payments box. This also doesn't allow all payment rows to show up before payoff. Please help.

[heatherjohnson]

How can you do this if you don't have the sequence option?

[reneealexander]

I like both of these but the interest paid result does not tie between the two methods (when payments are equal). Shouldn't they be the same?