Is there any app out there you guys like to use that makes tracking loans and payments easy? I'm using iLoan Tracker, but it's very basic; for instance, I have to manually enter the interest portion of each payment, rather than the app automatically doing it for me.
I'm trying to keep track of various personal loans I have floating out there, and just would like to KISS.
Hey @Ken Badziak - I'm not aware of any app that does this but I have all of my loans (balance, rate, payment, principle/interest, etc.) all tracked in an Excel file along with all of my other important rental property information. I keep this on Google Drive and can access the information from anywhere at any time.
I believe you have to open the file in Excel to get the formulas to recalculate, however you could put an entire amortization schedule in Excel if you absolutely need to know.
Thanks @Michael Seeker
Would you happen to have a blank copy of that excel file handy?I've got one as well, but it's rather basic...
@Ken Badziak - what you're interested in are the built-in "IPMT" and "PMT" functions. You should be able to find a lot of info on how to use these with a Google search but if you run into any issues or have any questions let me know I'm happy to help!
Ken Badziak I use my calendar for payment reminder and the I use the debtpayoff app to keep up with balances, interest, plus it has a debt payoff plan that I love.,