Debt Snowball & Avalanche Spreadsheet

What's inside

• Up to 15 debts and cards
• Payoff date and interest for each debt
• Month-by-month schedule and balance chart

The tabs

1. Debts
2. Schedule

With the example data

It opens filled with a realistic example, so you can see how it works before you type your own numbers.

Debt-free

May 2029

Total interest

$4,494

Pay first

Store card, 29.9% APR

How you use it

1. Go to the Debts sheet. Replace the four example debts with yours: name, current balance, APR and minimum monthly payment. Up to 15 debts.
2. Enter the extra amount you can pay each month on top of all your minimums, and the month of your first payment.
3. Choose a method. Avalanche pays the highest interest rate first and costs the least. Snowball pays the smallest balance first and clears whole debts sooner.
4. Read your debt-free date, total interest and the payoff date of each debt. The Order column shows which debt gets your extra money first.
5. Open the Schedule sheet for the month-by-month plan. Each month, update your balances on the Debts sheet to stay on track.

Try the free calculators first

The sheet does the same math as these calculators, every month, with your own numbers.

• Debt Payoff PlannerSnowball or avalanche: which pays off my debt faster?
• Credit Card Payoff CalculatorHow long will it take to pay off my credit card?
• Student Loan CalculatorWhat will my student loan payments be, and how fast can I pay them off?

Questions