Debt Snowball Spreadsheet Excel & Google Sheets, Debt Payoff Calculator, Financial Planner
Start your journey to financial freedom with our simple debt elimination template. In our spreadsheet, you’ll develop a personalized debt repayment strategy and watch as it calculates your path to a debt-free life. Flexibility is key to success: easily make extra payments in any month and see your monthly payments and payoff dates adjust in real-time.
We’ve eliminated the complexity by providing you with a simple, intuitive, and visually appealing tool. Just enter your debt information, and let the spreadsheet take care of the rest. Your path to financial independence starts here!
This template is fully customizable! You can change everything in it – colors in tables, pie charts, etc.
WHAT’S INCLUDED ?
- Step by step instructions
- 4 Templates of Spreadsheets
- 1 Sample Excel Spreadsheet with Mock Data
- 1 Excel Spreadsheet with Empty Data
- 1 Sample Google Sheets Spreadsheet with Mock Data
- 1 Google Sheets Spreadsheet with Empty Data
- Editable in Google Sheets and Microsoft Excel
- Compatible with MAC, PC, Phones, or Tablets
FEATURES
- Use with Any Currency
- Automatic Calculations
- Customize Colors
- Payment Schedule
- Debt Balance Breakdown
- Debt Repayment End Date
- Beginner-Friendly
- Kickstart Your Financial Control with Just Three Simple Steps
EASY TO SET UP
- Know How to Clear Your Debt in 5 Steps
- Snowball Debt Management Strategy
- Intuitive and Easy-to-Understand Dashboard
GLOBAL DASHBOARD
- See Your Overall Progress as You Progress
- Track Your Monthly Target for Each Debt
- Dynamic Dashboard Over the Debt Clearance Period
PAYMENTS SCHEDULE
- Understand How Each Debt is Cleared
- Add or Subtract Extra Payments
- Intuitive and Easy-to-Understand Dashboard
PAYMENTS TRACKER
- Track Your Debt Payments Against the Target
- Categorization in Sources & Products/Services
- Tax Accountability for Annual Tax Reporting
The “Debt Snowball” method is a debt management strategy developed to help individuals optimize the debt repayment process. It was popularized by financial advisor and author Dave Ramsey and is one of his principles of financial management.
The method involves the following process:
- List of Debts: You create a list of all your debts, including credit cards, loans, auto loans, and so on. For each debt, you need to specify the current balance, interest rate, and minimum payment.
- Debt Ordering: Debts are ordered by balance, starting with the smallest. This means you begin by paying off the smallest debt.
- Minimum Payments: You continue to make minimum payments on all other debts.
- Extra Funds: You allocate extra funds for paying off the selected debt. These can be savings or additional income.
- Snowball Effect: Once the chosen debt is completely paid off, you take the freed-up funds (minimum payment plus extra funds) and add them to the minimum payment of the next debt in line.
- Repeat: You continue this process until all your debts are paid off.
The “Debt Snowball” method works because it creates a psychological stimulus. You start with the smallest debt, and when you pay it off, it gives you a sense of accomplishment and motivates you to keep going. This can be particularly helpful for those struggling with debt management and in need of additional motivation.
!! IMPORTANT !!
YOU WILL NEED:
- A device to access Google Sheets or Microsoft Excel
- A Google Account (if editing through Google Sheets)
- Microsoft Excel (if editing through Excel)
- Basic computer knowledge
HOW IT WORKS:
- Purchase (instant download)
- Upload the PDF file (access to Google Sheet)
- Download the Excel template
- Open the spreadsheet (start planning!)
SOME POINTS TO CONSIDER:
This is a digital download. No physical items will be shipped after the purchase.
Due to the digital nature of the product, all sales are final, and refunds are not issued.
DISCLAIMER REGARDING COLORS:
The actual color of the spreadsheet may vary due to differences in how our screens display color. Your phone, tablet, or computer may show colors differently, just as we also perceive colors differently. Please keep this in mind when purchasing the template.
