Website to track personal loans?

josephwilliam

I'm about to borrow some money from my parents to do a masters and want to find a website where I can track the amount I owe them. So I can put in the interest amount and the loan term and track the repayments and the amount left. I want to avoid any confusion about how much is owed.

Does anyone know if something like this exists?

Thanks,
Joseph

scottishblondie

I don't know of such a website - a spreadsheet would be an easy way to do this.

Peelerfart

scottishblondie wrote: »

I don't know of such a website - a spreadsheet would be an easy way to do this.

My own thoughts exactly,30 minutes with Excel should be plenty.

MFSaver

A spreadsheet might be better, not only because it is simple to do, but also because a website can disappear just like that, taking all your information with it.

fracturedsun

Echoing the spreadsheet idea. Should be relatively easy to set up, columns for amount outstanding, amount paid, interest added per month.
Start with starting amount. Interest will be outstanding column x interest rate/ 12 (to give 1 month) / 100. Outstanding balance will be previous balance (cell above) + that month's interest (from interest cell) - amount paid that month (payment cell). Each row is a new month, input the amount you paid each month and it will automatically update with the new balance. If your interest rate is variable add in another column for interest and update that as it changes too.

somethingcorporate

If it takes you 30 minutes to put together in a spreadsheet you're doing it wrong.

Google excel loan calculator and I am sure you will find something useful. The columns should take seconds to set up.

josephwilliam

Thanks. Excel will work fine.