Debt Payoff Spreadsheet
Compare the snowball, avalanche and your own order side by side, and pick the plan that gets you out of debt for the least interest.
What's inside
One workbook, in Excel + Google Sheets. A debt payoff spreadsheet that runs three plans on the same debts and shows which one costs least:
- Start here: four steps and what the colors mean.
- Dashboard: your plan's debt-free date and total interest, the interest saved compared with minimums only, and the cheapest method, with charts of the balance over time and the interest each method costs.
- Debts: up to 10 debts with balance, rate and minimum payment, your extra monthly amount, and a drop-down to choose your plan: snowball, avalanche or your own order.
- Your plan: the debt schedule for the method you chose, month by month.
- Snowball and Avalanche: the same debts, smallest balance first and highest rate first.
- Compare: debt-free date, months, total interest and total paid for every method, including minimums only.
- Sample check: five sample debts with the answers worked out separately. Every row shows ✓ when the formulas are right.
Who it's for
A good fit if you
- Owe on credit cards, a car, student loans or medical bills and want a dated plan.
- Are not sure whether the snowball or the avalanche suits you and want to see both on your own numbers.
- Want a credit card payoff calculator that handles several cards at once.
Not for you if you
- Only need a simple snowball plan. The Debt Snowball Spreadsheet is the shorter file.
- Need advice on consolidation loans or bankruptcy. That is a job for a qualified professional.
How it works
- Open the file. It comes filled with five sample debts and $300 extra a month.
- Check the sample. Open Sample check and see every row show ✓.
- Type in your own debts. Replace the samples, pick a method, and compare the dates and interest on the Dashboard.
Questions
Does it work in Excel and Google Sheets?
Yes. You get an Excel file (.xlsx) and a Google Sheets version with the same formulas, so it works as a free-to-copy Google Sheets debt payoff template once you have bought it.
What is the difference between snowball and avalanche?
Snowball pays the smallest balance first; avalanche pays the highest interest rate first. Both pay minimums on everything else and roll each finished payment onto the next debt. The file runs both so you can see the gap on your own debts.
Can I set my own payoff order?
Yes. Choose Custom and number your debts in the order you want them paid.
How many debts can I add?
Up to 10, over up to 30 years of months. If the payments cannot clear a debt, the file says so.
Does it work for a mortgage?
You can add one, but most people leave the mortgage out and use the plan for consumer debts. For a single loan with extra payments, the Loan Amortization Schedule is a better fit.
Can I get a refund?
Yes. If the template does not work for you, email [email protected] within 30 days of buying and you get your money back. See the refund policy.
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Disclaimer. For general information only. Not tax, legal or financial advice. Check the rules for your country or ask a qualified adviser. Read the full disclaimer.