Debt Snowball Calculator | Automatically Calculates Payoff Date on Debt Snowballs & Avalanches
This listing is for one AUTOMATIC/AUTOMATED Debt Snowball Calculator Spreadsheet. Perfect for use with Dave Ramsey ideology to pay off debt fast! Debt Snowballs work by listing all your debts from smallest to largest, making minimum payments on all loans, and putting all your extra money toward your smallest loan first, then once that one is paid off, move on to the next smallest debt, and so on. Can also be used to compare to Debt Avalanche method which is to pay the highest interest loans first, or a custom order.
-Microsoft Excel Spreadsheet (for download)
-Google Sheets compatible
(Works on PC and Mac, on a Mac you will need to use Excel or Google Sheets, NOT Numbers. Not compatible with mobile phones)
FEATURES on this product:
• User friendly
• Fully automated (you fill in the white boxes, everything else will auto calculate!)
• Input your loans once and update with actual payments as they are made
• Space for up to 35 different loans
• Change and play around with several variables to see how it affects your payoff date
• Clearly displays your debt stats
• Clearly displays debt payoff month and year (will show all calculations on separate page)
• Easy switch to Debt Avalanche method (highest interest rate first) or custom order
• Input for one-time lump sum payments on debt (bonuses, tax refunds etc.)
• Input for expected increases in monthly debt payments (future raises, second job etc.)
• Perfect for irregular income
For directions on how to use this calculator, watch our easy, 5 minute YouTube tutorial! Watch here -> https://www.youtube.com/watch?v=yG6raYhKERE&t=70s
Watch the more detailed, 12 minute tutorial here -> https://youtu.be/a3l3l-LE0k0
TO OPEN IN GOOGLE SHEETS:
1. After purchase, select "view product" (or find it later in your email)
2. Select "download" next to the file
3. Select "save" and save it to your computer without opening it
4. Open Google Sheets (google.com/sheets)
5. Near the upper right corner select the file icon that says "open file picker"
6. Select the debt snowball calculator file that you saved and open
We wanted to create this product after searching everywhere online for a debt snowball spreadsheet that was thorough enough to compute our debt snowball situation. We had many small loans, large chunks of money we would put toward the debt a couple times per year, and an anticipated increasing income that we would put toward faster debt payoff. We needed something that could calculate all of this and give us an accurate debt payoff month.
Note: With deferred student loans the calculations may not be exact, depending on your circumstances.
Note: Best performance is on a computer or tablet, cell phone performance may be limited.
Thank you for looking, and good luck on your debt free journey!
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*Your satisfaction is important to us! If something on the spreadsheet is not working, or you are having trouble understanding it, please contact us and we will respond promptly to help you!