From that same statement add in the “minimum payment due” amount into the next column and the interest rate.
The sheet will now calculate your monthly interest amount so you don’t need to add this manually. Don’t worry if it’s a little out from your statement, for these purposes is just needs to be close enough.
Finally, if you have a promotion on this card, write in the end date so that you can easily see which cards might be falling out of their 0% introductory period soonest.
A quick side note here, in my experience, most credit card companies don’t like to make the “promo end date” clear on their statements, I guess because they want you to forget and end up paying interest. You might have to call or email them to get confirmation of the EXACT date you need to pay the card off before they start to charge you their standard interest rate. Also, don’t worry too much if this is a pain to find, you can always revisit it later.
Now pick another card…..and do the same again
Keep going until you have listed ALL your debts. If you need more lines, just right click on one of the rows, and insert a row.
When you have done this, copy the formula in column F to calculate the monthly interest charge :
The totals row will now reflect the total of all your balances owed, the sum of all your minimum payments and the sum of monthly interest charged. All these values transfer to the summary box at the side of the sheet.