List all your debts, enter balances and interest rates, and get a complete payoff schedule automatically — month by month, debt by debt. Watch the snowball build in real time.
| A | B | C | D | E | F | |
|---|---|---|---|---|---|---|
| 1 | 🏔️ DEBT SNOWBALL TRACKER — Finlybox.com | |||||
| 2 | Priority | Debt name | Balance | Rate | Min. pay | Payoff date |
| 3 | 1 | Credit card A | $2,400 | 24.9% | $50 | =EDATE(...) |
| 4 | 2 | Credit card B | $5,100 | 19.4% | $100 | =EDATE(...) |
| 5 | 3 | Car loan | $11,200 | 6.9% | $320 | =EDATE(...) |
| 6 | 4 | Student loan | $28,500 | 5.5% | $280 | =EDATE(...) |
| 7 | ||||||
| 8 | Total debt | $47,200 | — | $750 | Mar 2030 | |
| 9 | 💸 Extra monthly payment | $200 | ⬆️ Change this to see impact | |||
| Sheet / feature | What it does | Included |
|---|---|---|
| Debts entry tab | Enter up to 20 debts with all details | |
| Snowball payoff schedule | Month-by-month breakdown through final payoff | |
| Avalanche comparison | Side-by-side interest savings vs. snowball | |
| Progress chart | Visual debt reduction over time | |
| Extra payment simulator | Change one cell to model extra payments | |
| Print layout | Clean single-page print view of your schedule | |
| Instructions tab | Step-by-step setup guide inside the sheet |
The debt snowball method — popularized by Dave Ramsey — involves paying your smallest balance debt first, regardless of interest rate. Once the smallest debt is paid off, you roll its minimum payment into the next smallest debt, creating a growing "snowball" of payment momentum.
It's not always the mathematically optimal strategy (the avalanche method, which targets highest interest first, saves more money). But for most people, the psychological wins of eliminating debts entirely keep them motivated and on track longer. This template includes both strategies so you can choose what's right for you.
Use our Debt Payoff Priority Calculator to compare snowball vs. avalanche with your specific debts before deciding which method to track.