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Top 5 Free Debt Snowball Spreadsheets for 2022

Creating a debt repayment strategy may seem tough, particularly if you lack financial experience. However, spreadsheets simplify the procedure, making it simple for anybody who can use a spreadsheet to create a debt repayment plan.

The snowball approach is a common debt-reduction tactic, and downloading one of these debt-reduction worksheets will assist you in reducing your debt.

These are spreadsheet templates that work with Microsoft Excel, OpenOffice Calc, and Google Sheets. A template is a ready-made spreadsheet containing all of the necessary formulae to conduct all of the work for you. Simply download the template and enter a few figures; the spreadsheet will handle the rest.

How to Make Use of the Spreadsheet

A spreadsheet is a vital financial tool for developing a debt settlement strategy. They are quite popular among debtors who wish to plan their debt settlement strategy since they are so simple to use and are accessible online.

A debt reduction spreadsheet also provides the user with a complete breakdown of his or her total income, spending, payback income available, creditors’ information, and debts detail. Here are some applications for the spreadsheet:

Downloading Tools

The first step is to get a debt reduction worksheet. You choose a spreadsheet based on your requirements and preferences. The spreadsheet is readily accessible over the internet. You don’t have to be concerned about privacy since the information is only saved at your end.

Add Up the Costs

The more information there is, the better the findings. As a result, we recommend that you include as much information as possible. You may always begin by inputting the information for all of the creditors. This listing must be completed in the column on the left side. Continue moving horizontally and vertically after that.

Listing Details

Creditors’ list: Enter information about all of your debts, including HELOCs, credit card bills, student loans, medical expenses, and lines of credit, even if you took an emergency loan bad credit – this should be recorded in the table.

Payment Due

Enter the amount owed beside the creditor’s name.

Rates of Interest

Keep track of the interest rates charged by different creditors and record them in the following column. The interest rate on a credit card debt might exceed 18%. As a result, learn about the interest rates charged by each credit card provider.

Minimum Payments

Maintaining a decent credit score is critical. So, make a list of the minimum payments you must make in order to retain a good credit score. However, if you wish to reduce your debts, you must boost these minimal payments.

Once you’ve provided all of the required information, let the debt reduction spreadsheet do the math for you. It doesn’t take long. After the calculations are finished, you examine and evaluate the results to make important choices about your debt settlement strategy.

Income Growth

Debtors who wind up saving very little or nothing for debt repayment must discover ways to either raise their income or boost their savings quantity.

The Most Effective Free Debt-Reduction Spreadsheets

How many people in America are in debt? According to financial analysts, almost 80% of Americans are in debt. Owing money seems to be a way of life for Americans since we are collectively $14 trillion in debt. That figure is steadily increasing. These figures are forcing more and more people to think about debt management.

Healthy Wealthy Skinny Worksheet

Healthy Wealthy Skinny’s easy Google Sheet enables you to monitor up to 10 debts over the period of three years. Before breaking down your monthly payments to the granular level, you may design your debt snowball, including tracking the amount of each payment that is interest and what the remaining balance will be each month.

Debt Reduction Snowball Calculator and Credit Repair Spreadsheet Vertex 42

After entering all of your debts, you may learn something from the Debt Reduction Snowball Calculator worksheet from Vertex 42 by selecting from several debt-reduction tactics.

This spreadsheet contains extra information regarding debt-reduction techniques with greater resources. After entering your information, choose from the available strategies to see how each might work for paying off your debt. For your convenience, this spreadsheet contains a printed payment plan.

Do you need assistance with credit repair? Download the Debt Reduction Spreadsheet Credit Repair Edition to begin paying off each credit card to particular amounts established by your FICO score. When you achieve that target, the spreadsheet will show you how to begin repaying any credit card amounts.

Tiller Community Solutions’ Debt Snowball for Google Sheets

The Tiller Community Debt Snowball Spreadsheet lets you compute expected payback dates and monitor your debt-free journey. You may use this sheet to toggle between the avalanche and debt snowball approaches.

You may compare the two tactics side by side using graphs. The spreadsheet is applicable to any sort of debt.

This template is available to everyone, but it is optimized for Tiller-powered spreadsheets.

Tiller automatically syncs your daily finances to Google Sheets and Excel, including all of your expenditures, account balances, and current debts and obligations.

Original Debt Reduction Spreadsheet

This method of debt reduction is quite easy to use. Simply input the relevant debt facts such as the name of the creditors, the sum owing, the interest rate charged by each creditor, and the monthly payments. The spreadsheet is then used to compute the following:

  • Debt total;
  • Interest Rates on Average;
  • Monthly Interest Average;
  • Total monthly payments/installments;
  • The available monthly amount (income – expenses);
  • Additional payback amounts are possible (amount available-monthly payments).

Entering information such as interest rate and monthly payment helps you make key debt settlement choices such as “Which debt should I pay off first?” The purpose is to assess the debts and available funds and design a strategy to pay off the commitments as soon as possible.

Wise Woman Wallet’s Debt Snowball Spreadsheet

This Wise Woman Wallet Excel file enables you to apply not just the debt snowball and avalanche strategies, but also what the inventor refers to as the ‘debt volcano’ approach.

This strategy organizes your debt payback priority based on your irritation and feelings toward each obligation. If one debt irritates you more than another, you turn that rage into drive to pay it off first.

This spreadsheet lacks graphs and visualizations, but it does provide a fast glimpse of your overall balance. This sheet will need to be manually updated each month.


If testing with these spreadsheets leads you to believe that you need more assistance in managing your debt, you may check into debt-relief firms. It is, however, not a move to be taken lightly: Debt settlement may take years and might result in a drop in your credit score, among other consequences.