Debt Snowball Calculator - Excel Spreadsheet

Product Description

This debt calculator will show you the way to becoming debt free with the click of a button! Debts can be stressful and feel like they are impossible to pay off. It can be overwhelming knowing where to start and how to best allocate your payments. If you can relate, then this easy-to-use debt payoff calculator is perfect for you! This spreadsheet will show you exactly how to allocate your payments to make the road to being debt free easy and seamless. This spreadsheet shows you how to pay off your debt using Dave Ramsey's proven "Debt Snowball" method, where the smallest debts are paid off first and the remaining payments snowball to become bigger and bigger until all your debts are knocked out! The Excel spreadsheet has the following convenient features:

• At the click of a button, all the details of your road to being debt free are calculated
• Accommodates up to 10 different loans
• Gives you the flexibility to specify an additional monthly budget to put towards payments as well as an immediate one-time payment to make towards any one of your loans
• Automatically generates an entire payment schedule for each loan with up to 30 years of payments
• All payments are broken down to show you how much interest is being paid 
• Let's you explore different pay-off methods including Debt Snowball, Minimum Payment, and even a Custom Order

Only basic spreadsheet knowledge is required because the tool is already programmed to do all the calculations and hard work for you! The spreadsheet even comes equipped with instructions for you.

Technical Specifications

The file is a Macro-Enabled Excel Spreadsheet (.xlsm file) with the following tabs:

• "Debt pay-off calculator"
• "Instructions Note"

The file is a Macro-Enabled Excel file (.xlsm) and therefore must be opened with Excel. This spreadsheet works in both Microsoft Windows and Mac. When opening the file, you must do the following before you can use the calculator:

• Enable editing when prompted
• Enable content when prompted