Finance, budgeting and money · FB-26 · Budget
Debt Snowball Spreadsheet
Free debt snowball spreadsheet — debts listed smallest to largest with minimums, the extra on the first, and balances after this month's payments worked out.
One page. The A4 and US Letter files are laid out identically, so neither is shrunk to fit.
Print it and write on it
Fillable PDF type and save
Spreadsheet formulas included
The fillable versions have real form fields — open them in any PDF reader, type into them and save. Printing help.
Fill it in online
The same sheet, on screen. Totals and figures are worked out as you type, rows can be added or removed, and you can print it or download the completed version as a PDF. Everything stays in your browser — your entries are kept in this browser's own storage on this device, nothing is uploaded, and there is no account.
Who this is for
The snowball approach, laid out to calculate. Debts in order of size, minimums on all, the extra on the smallest, and the balances after this month worked out.
People who have chosen to clear debts smallest-first and want the month's payments and the balances after them worked out rather than guessed.
What this helps you track
- Every debt in the order it will be tackled
- What the minimums add up to — the amount the month must cover regardless
- Where the extra is going this month and what each balance will be afterwards
- Which debts are cleared, so their minimum can be rolled on
How to use it
- Write the month at the top and the amount you can put towards debts over and above the minimums.
- List the debts smallest balance first, numbering the order column 1, 2, 3 and so on, with each balance and its minimum payment.
- Put the extra amount in the extra column against the first uncleared debt. Leave the others at zero.
- The payment and balance-after columns are calculated in the browser and workbook; on paper, add the minimum and extra, then take that off the balance.
- When a debt reaches zero, tick it cleared and next month add its minimum to the extra for the debt below it.
- Start each month from the lenders' statement balances, since interest will have been added.
Formats
- Printable PDF (A4 and US Letter)
- Fillable PDF with form fields
- Fill in online, saved in your browser
- Excel / Google Sheets workbook
The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.
How to print
Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.
Questions
What is the debt snowball?
A way of ordering repayments: pay the minimum on everything, put any extra on the debt with the smallest balance, and when that is cleared roll its payment onto the next smallest. It is one approach among several — ordering by interest rate instead is another — and this sheet simply lays out the smallest-first version.
Does it account for interest?
No. The balance-after figure is the balance less the payment. Interest differs by lender and is added on their side, so start each month from the statement balance rather than from last month's sheet.
Is smallest-first the cheapest way to pay off debt?
Not necessarily; that depends on the rates each debt carries. Some people choose it anyway for the early sense of progress. The sheet makes no recommendation either way.
What if I cannot afford the minimums?
The sheet shows the shortfall as a negative figure but cannot solve it. If the minimums exceed what you have, talk to the lenders or a free debt advice service where you live before the payments are missed.
Related resources
Monthly Budget Spreadsheet
What came in this month, from wages, benefits and anything else.
Annual Budget Spreadsheet
Income and outgoings for every month of the year in one view.
Also in the library
Printable sheets, workbooks and tools on the same subject.
Debt Repayment Record
Get every debt onto one page with the real figures from the statements, and keep a record of what has actually been paid off.
Debt Payoff Tracker Spreadsheet
Every debt with its balance, rate and payment, working out how many months each takes to clear and roughly what that costs in interest — plus both payoff orders.
