Wednesday, 26 October 2016

Wanda Paydown Estimator

Okay, so with the change in plans to pay off the Wanda Loan, this means there is a great deal of uncertainty as to just how this will unfold.

The other question is if I will still be able to make the day, while putting less on the loan than I had originally planned to save. 

To answer this, I made yet another spreadsheet: The Wanda Paydown Estimator. This one will model what will happen to that balance after each regular payment and my extra payments.

I have put each and every regular payment in there and each payday, all in chronological order. 

Each entry will take the current balance and subtract the payment and show the new balance. 

The amount of the regular payments will be what it currently is and use that going forward.

If the theory holds true and the amount being taken off for interest will drop, then that number will increase. 

This will then, in turn mean that the payments going forward will take a larger bite out of the Wanda Loan.

Like the savings estimator spreadsheet, this one will start out with all estimated numbers and get gradually more accurate as real numbers are added in.

As it stands it looks like I will either be paying the Wanda Loan off, either one payday early or one payday later than Total Debt Freedom Day (Nov, 7, 2017). 

What it really means to me is that it is still possible for me to make that day, and celebrate Total Debt Freedom on that glorious day.

There are a thousand things that could go wrong, or otherwise make my plans go askew, but I will deal with them like I have already dealt with all of the other challenges that have arisen. 

As always: Keep your head up, your attitude positive, and keep moving forward! 

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