Debt Snowball Spreadsheet (Free Excel)
A free debt snowball spreadsheet. List your debts from smallest to largest and see exactly when each one is paid off and when you are debt free.
Download the free Excel template (.xlsx)
Free. No email or sign-up needed. One Excel file, 3 sheets.
What is inside the debt snowball spreadsheet
The snowball method pays the minimum on every debt and puts all extra money on the smallest balance. When it is paid off, its payment rolls to the next debt.
| Sheet | What it does |
|---|---|
| Debts | Your monthly budget for debt and up to 5 debts with balance, APR and minimum payment. Shows the payoff month for each debt, the debt-free month and total interest. |
| Schedule | A month by month schedule for 10 years that calculates every payment and balance. |
| Read me | Short instructions. |
Colour key: yellow cells are for your own numbers and text. Green cells calculate automatically, so leave them alone. Sample data is included so you can see how it works, and you can delete it.
How to use the debt snowball spreadsheet
- Type your total monthly budget for debt in the yellow cell.
- List your debts from smallest balance to largest with APR and minimum payment.
- Read the payoff month for each debt and the debt-free month.
- Increase the budget to see how much faster you finish.
For a single credit card, try the credit card payoff calculator. For loans, see the loan payoff calculator. This spreadsheet is an estimate and not financial advice.
Frequently asked questions
What is the debt snowball method?
Pay minimums on all debts, then put every extra dollar on the smallest balance. When it is gone, roll its payment to the next smallest.
Snowball or avalanche?
The avalanche targets the highest interest rate first and usually saves more interest. The snowball gives quicker wins. List debts in either order to compare.
How many debts can it handle?
Up to five.
Is the schedule accurate?
It adds one month of interest to each balance, then applies payments. Real lenders may differ slightly.
Is it free?
Yes, with no email or sign-up.
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