This free debt snowball worksheet can be used to help you track your progress with paying off your debt using the Debt Snowball method.
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.
What is the Debt Snowball Method
The debt snowball is a methodology to pay off debt developed by David Ramsey. With the debt snowball method, you pay off your debt from the smallest balance to the lowest balance. Here are the basic steps if the debt snowball method.
- Document your debts and include their balances
- Order your debts from lowest balance to highest balance
- Focus on paying the debt with the lowest balance first by paying as much as you can on that debt
- Pay the minimum payment on all other debts
- Once you pay off the debt on the top of the list, cross it out and focus on the next debt on the list
How to use the Debt Snowball Worksheet
- Choose whether you want the spreadsheet in Excel or Google Sheets format
- Select the appropriate link from the download section below
- Enter your debt repayment plan start date on the first tab of the worksheet
- Enter your list of debts in the table on the first tab of the worksheet (order does not matter)
- The worksheet will order your debts from smallest to largest
- Use the tracker tabs of the worksheet to log your debt payments for each of your debts.
Related Post: 6 Debt Free Journey Mistakes You Should Avoid
Download Your Free Debt Payoff Worksheet
Our debt snowball worksheet comes in both Excel and Google sheets format. Select the button below that corresponds to your desired format to grab your copy now.
Note: If you need space for more for more debts you can grab the extended version of the Debt Snowball Worksheet here.