Debt payoff planner spreadsheet

The hardest part of paying off debt is not knowing when it ends. A plan with a real debt-free date makes every extra payment feel worth it.

The Debt Payoff Planner takes each debt's balance, APR and minimum payment (up to 15 debts) plus the extra amount you can pay each month. It then builds the whole plan: which debt to pay first, how much to pay on each every month, when each one is paid off, and the total interest. The dashboard compares Snowball and Avalanche side by side against paying only the minimums, with a balance-over-time chart, and paid-off minimums roll into the next debt automatically.

A progress tab logs payments and statement balances with a progress bar for every debt. It works in Excel and Google Sheets and is part of the Personal Finance Bundle.

What you get

You get two files, a blank template and a filled-in example, plus a Start Here guide. Open them in Microsoft Excel, or upload them to Google Drive and open them with Google Sheets (free). You type in the input cells; the formulas, totals and charts update themselves.

Tips

• Enter every debt, even the small ones; they change the order.
• Try both methods and pick the one you will actually stick with.
• Update statement balances monthly so the debt-free date stays honest.