I maintain an all-in-one personal finance companion that I use alongside my budget to acquire a holistic view of my finances, forecast the future, and analyze different scenarios.
Why you need it
- Allows you to keep track of everything in one place (and link information together).
- It is fully dynamic, requiring very few inputs to calculate everything you want to see.
- It is lightweight (less than 1MB).
- The feature set continues to grow.
Why spreadsheets (and not an app)
Spreadsheets are extremely versatile and allow you to edit the tools and reports as desired whereas an app is very limiting in the changes you (the user) can make. I want you to retain full control and usability over how you approach your finances.
Full feature set
- Reports tab with high level report visuals of all the tools.
- Yearly budget forecasting for up to two people getting paid twice a month.
- Fixed assets tracking and depreciating via straight-line or declining methods.
- Paycheck savings rate calculator to determine what percentage of each paycheck is being saved/invested.
- Net worth tracker.
- 401-K maximizing based on contribution percentage and employer match.
- Portfolio allocation tool to help re-balance investments based on the allocation percentage, current balance, and investable cash.
- Retirement calculator to play around with different scenarios and see when you might be able to retire.
- Debt reduction schedule with the ability to set the payoff method (custom order, snowball, avalanche) and how much you can pay monthly. The report dynamically adjusts to show the amount paid towards each creditor every month and when each creditor will be paid off.
- Loan amortization schedule (up to 30 years) with the ability to toggle between mortgage or other.
- Quick loan calculator aimed at vehicle purchases to highlight total interest owed and monthly payments.
- Credit card rewards points tracking to determine how long it takes to cover the annual fee and ensure it’s worth having the card.
- Side income tracker.
- Income tax liability forecaster.
Provides high level reports of all other tabs in order to get a holistic view of everything at-a-glance.
Budgeting on a paycheck-by-paycheck basis with dollars you already have is very important, but so is forecasting the future. This will help shed light on areas that you might need to start saving for now. This tool allows for yearly forecasting for up to two people getting paid twice a month.
Fixed Assets Tracker
Track and depreciate (using straight-line or declining) everything you own over a certain dollar threshold in order to have a list for insurance in case of property damage / break-ins and to know how much insurance is needed to replace the items.
Paycheck Savings Rate Tracker
Track how much of your paycheck is being saved/invested over time.
Net Worth Tracker
Track your assets (cash, investments, etc.) against your liabilities (loans, etc.) to see where your true net worth currently stands.
401(k) Maximizing Tool
Curious how much of your paycheck would be needed to contribute the maximum annual amount into your 401(k)? This tool uses your annual salary, contribution percentage, and employer match to show where you are now and provide different scenarios for what increasing your contribution percentage would like.
Portfolio Allocation & Re-Balancing Tool
If you want to hold a percentage of your portfolio in certain funds, stocks, bonds, etc. this tool will help you re-balance based on these percentages, the current balance, and investable cash.
Based on your current plan, see how long it will take you to retire within your needs. Then play around with new scenarios to see what adjustments you can make to speed it up.
Debt Reduction Schedule
Not sure how to tackle paying off your debt? This tool will dynamically build you a month-by-month payment reduction plan based on the payoff method you select (custom order, snowball – lowest balance first, avalanche – highest interest rate first). It even includes a selection to show how long it would take to pay off the creditors if only paying the minimum monthly payment (and how much interest would accrue).
Loan Amortization Schedule
Wondering what the best loan for your situation is? This tool will show everything from the first payment to the last (up to 30 year loan term), whether it’s a mortgage or not. Play around with different scenarios such as rates, term lengths, extra monthly payments, etc. and watch it dynamically rebuild the amortization schedule around your inputs.
Quick Loan Calculator
Input a few details and see the monthly payment and how much interest you will pay over the course of the loan (primarily aimed at vehicle purchases but can easily be used for any other loans).
Credit Cards Reward Points Tracking
Wondering if paying the annual fee on a credit card is worth it for you? This tracker determines how long it takes for the rewards points to cover the annual fee on a card.
Side Income Tracker
Need something easy and basic to keep track of side income? This tracker will allow you to do just that.
Income Tax Liability Forecaster
Use this tool to estimate your annual income tax liability.