Debt Snowball Spreadsheet
List your debts, add what you can pay each month, and see the month you will be debt-free with the snowball method.
What's inside
One workbook, in Excel + Google Sheets. A debt snowball worksheet that does the month-by-month math for you:
- Start here: four steps and what the colors mean.
- Dashboard: your debt-free date, months to go, total interest and the interest you save compared with paying minimums, with a chart of your balance falling and the order your debts get paid off.
- Debts: up to 10 debts with balance, interest rate and minimum payment, plus the extra amount you can pay each month. The payoff order and each debt's payoff date appear next to them.
- Snowball plan: every month until you are debt-free, showing what to pay on each debt and what is left.
- Minimums only: the same debts paid at the minimum, so you can see what the snowball saves.
- 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
- Have several credit cards, loans or bills and want one clear plan to pay them off.
- Like the idea of clearing the smallest debt first and rolling its payment onto the next.
- Want to see your debt-free date change when you add $50 or $100 a month.
Not for you if you
- Want to compare the snowball with the avalanche method. The Debt Payoff Spreadsheet does that.
- Cannot cover your minimum payments. Talk to your lenders or a nonprofit credit counselor first.
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 on Debts with your balances, rates and minimums, set your extra amount, and read your debt-free date 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.
How does the snowball work in the file?
You pay the minimum on every debt and put your extra amount on the smallest balance. When a debt is paid off, its minimum rolls onto the next smallest, so your total monthly payment stays the same while each debt goes faster.
How many debts can I add?
Up to 10. The plan runs for up to 30 years of months; if your payments cannot clear the debts in that time, the file tells you instead of showing a wrong date.
Does it include interest?
Yes. Each month interest is added to every balance at its own rate before payments, so the totals and dates reflect what the debts really cost.
Can I track my real payments in it?
This file is the plan. To record actual payments and statement balances each month, use the Debt Payoff Tracker.
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.