Debt Snowball Worksheet

Free Debt Snowball Worksheet.

Debt snowball worksheet. On the left you write in the names of all your different debt sources like Credit CardX Car Loan Student Loan 1 Student Loan 2 etc. The snowball debt means to pay off one debt at time with all the cash you have until the cash is fully paid off and the move to the next debt and repeat it so that the full cash may pay off. On the Debt-Snowball worksheet review and edit row 2 by entering the names of all accounts where you have outstanding debt with the account with the lowest balance first followed by the next account with the next lowest balance.

Be sure to watch our Debt Free Journey series on YouTube where we cover topics that will help you succeed at eliminating your debt and most importantly not getting into debt again. If you want worksheets to help keep you organized Ive created two that you can download. Clear the excess cells if there are more cells than what you need.

Use these free debt snowball worksheets. Debt Snowball Payoff Calculator. The Debt Snowball Method is as simple as writing down all of your debt accounts from lowest to highest and starting small.

This is exactly the theory this method works on. Surplus This is the amount of money that you have leftover each month to pay down your debt. You can strategize your debt snowball before breaking down your monthly payments to the granular level including recording the portion of each payment that is interest and what the remaining balance will be each month.

The main thing is to use this worksheet to track your progress. Then you need the latter to come up with the amount and time youll need to complete your debts. If you are wanting to pay off debt on your own this works.

DEBT SNOWBALL TRACKER WORKSHEET. On the second worksheet you can track your individual progress for each debt. Creating a debt snowball is my preferred method of getting out of debtWhen My wife and I were paying off 46k of debt we actually didnt use a debt snowball worksheet but looking back I think it really could have helped us.