Time to see how much interest payable is decreasing each month

There are plenty of simple calculators to work out the impact of extra repayments or split i/o and p/i, but nothing I have seen deals with the complexity of things that people on this forum do every day - debt recycling, extending some I/O periods while converting other to P/I, redraw, modify additional repayments after x amount of time etc.

Most of the models deal with a single scenario, or look at an instance in time and ask what happens if you change 1 thing...

I think what I have in mind is probably something the FI community would be looking for.

 

I sold my shareholdings (I don't see any big leaps soon), going to dump money into offset, then let's see next month's interest numbers. Note, there won't be too much of a CGT headache to deal with. (Not like buying and selling properties!)

Don't worry, I still have significant exposure to shares via my super.

 

Its modelling. Two will do it... But its like a crystal ball. Only as good as assumptions

Excel
Somersoft PIA software

 

You mean like the scenario when interest rates become negative

 

how fun is exception handling?

 

Interest paid for PPOR last month. Just under $7/day . From $11.50 last month to $7 now.... i'll take it... it's like saving another few dollars for lunch splurging each day

They also reckon interest rates could fall to 0% pretty soon. Let's see Nov 3.

 

The compounding effect is even bigger than the apparent saving

 

Oh wow. Last month's interest was a touch under $200. Awesome!

 

I've been watching.
March 2019 interest for PPOR: $734
March 2020 interest for PPOR: $372
January 2021 interest for PPOR: $180

Going to know the March 2021 amount pretty soon. Can't wait to see it

 

Will it crack the $100 mark?
Feb is a short month so it might

 

Not quite just yet! But I'm sure it would be this year sometime.

 

March 2021: $155. A whopping $25 decrease from only 2 months ago!

Ps. a clarification. What i've termed March is more like mid April, Jan is the interest in mid Feb.

I called the interest in mid April "March" though because it includes the last days of the March month, and I was picking out months with 31 days to use, its a clean comparison and I don't have to correct/adjust for the number of days in the month.

Also, an observation, the Feb and March interest was very similar, just a couple of $ difference. I think the daily interest is rapidly decining now.

 

April: $141 —> $4.72 per day
May: $137 —> $4.44 per day

 

June 2021: $125 --> $4.17 per day

 

If your interest is only $125 per month, you can't have a lot left to pay off.

 

Interest currently being paid on $42k.

So, I reckon it will be $0 in a year

 

Good work.

 

A small decrease this month. $123.75 = $3.99/day.

 

August: $116.74 = $3.77 per day. Slow decrease…

 

what are you doing with the extra 20c per day?