![]() ![]() Once you work your way through all the cells, you’ll have your own personalized debt snowball worksheet. To include the interest incurred during the prior month, be sure to include a formula like the below (taking 1/12 of the annual interest since there are 12 months in each year):Īdjust the calculations at the point where each debt pays off (since you’ll need to have some dollars applied to the first debt and then the remaining amount to the next debt). ![]() List your debts across the top with your balance, interest, and minimum payment amounts.Īdd a column for months and extra payments on the left-hand side.īe sure to have columns for “payment amount” and “balance amount” for each debt.Įnter a calculation like the below to reduce the balance each month, or calculate it manually. Open a blank page in Google Sheets or Excel. This study actually proves it: “Psychological Momentum - The Key to Continued Success,” by Seppo E. Plus, you might choose to cut your cable and save $100 a month. Momentum With ProgressĪfter paying off that initial debt, you might be so pumped that you decide to bartend on the weekends, which earns you an extra $500 a month. So, you’ve got an extra $25 to put toward your next debt that you really didn’t have before. After you pay off the first debt, you no longer have to make that minimum payment. We can visually see the first reason in the detail tab of the debt payoff spreadsheet. With each debt payoff, there is more money (the minimum payments) to put toward the next debt.Īs you see progress, you’re inspired to earn more and cut back on expenses, so you essentially find more money to put toward your debts each month. ![]() In other words, they were able to pay off their debts faster and faster: Thanks for stopping by! Your support is appreciated.Those who choose the debt snowball method for paying off their debts often talk about how they built momentum as time went on. I want you to be happy doing business with me so any questions are welcome. We are always trying to improve our products so any recommendations or thoughts are greatly appreciated. If you need something custom made, feel free to reach out. We take pride in creating simple, but comprehensive products at an affordable price. Please do not copy, share, redistribute or resell these spreadsheets. These products are meant for personal and not commercial use. Due to the type of product, these digital products are non-refundable. Support: If you need help with this product or have inquiries, contact us.If there are any issues, here's an article about how to download digital items. How to Download: Once payment is complete, the digital file(s) will be available for download and an email will be sent to you.Editable: I've locked some cells to prevent accidental changes to formulas and graphs, but all cells can be unlocked.The formatting might appear differently depending on the Microsoft Excel version you use. Microsoft Excel: This product has been designed for use in Microsoft Excel.Here's an instructional video on the Debt Tracker to give you an inside look at how it works (it uses the up to 10 Debts spreadsheet, but the same functionality applies to this version): If you need up to 30 debts tracked, here's the 30 debt tracker. There is also an extensive instructions manual containing how to use this debt tracker spreadsheet as well as additional tips on how to pay down your debt, save and make more money. ![]() With a debt repayment plan in place, it'll calculate your debt free date and highlight paid debts so you continue your debt progress! There's space for 20 debts and up to a 30 year payment plan. It's fun, simple to use and fully automated with charts! Understand your debt situation and identify where you can make quick wins on your debt.Highlight your debt payoff progress so you can stay motivated to pay down your debt.This Debt Tracker Spreadsheet for Excel will help you to: Home 1 › Debt Tracker Excel Spreadsheet 20 Debts 2 Co-Parenting Google Sheets Spreadsheets.Productivity Google Sheets Spreadsheets.Check Register Google Sheets Spreadsheets. ![]()
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