Debt Payoff Planner Spreadsheet

This debt payoff tracker spreadsheet keeps every debt you are paying off in one place, logs each payment and builds an estimated month-by-month plan down to a zero balance. Pick the snowball method, the avalanche method or your own order, add any extra amount you can pay each month, and the Dashboard shows what you owe, what you have paid and the estimated month of your last payment. It works in Google Sheets and in Microsoft Excel, and it is an instant digital download: nothing is shipped.

You get: one ZIP file with a PDF that holds your Google Sheets link (open it, then File, then Make a copy) and the same template as an Excel file (.xlsx), with five sheets plus a guide. Nothing is dated: the plan starts by itself from your latest logged payment (or from today's month if you have not logged one), or in a month you pick, so you can start any time of year.

Works in Google Sheets (a computer is easiest; the Sheets app on a phone or tablet is fine for logging a payment) and in Microsoft Excel 2016 or newer. You type only in the cream cells; balances, statuses, the schedule and the chart update on their own.

Who it's for

• Anyone paying down several credit cards, loans or bills who wants one list instead of a pile of statements.
• Anyone who wants to see, in numbers, how the snowball and avalanche orders compare with paying only the minimums.

The Dashboard

Eight figures sit at the top: total debt now, total payments made, percent of debt paid off, the estimated debt-free month, interest and fees charged so far, the monthly payment toward debt, the estimated interest still to pay and how many debts are paid off. One line compares the estimated interest of your plan with minimums only. Below them: balances by debt with each estimated payoff month, a column chart of the estimated total balance by month, and the next five payments due. A short red line points to anything that needs a second look, such as a payment for a debt that is not on your list.

Debts

List up to 15 debts: name, type (credit card, store card, car loan, student loan, medical bill, personal loan, mortgage, line of credit, family loan or other), starting balance, APR, minimum payment and due day. If your lender's figure differs, type the balance and date of your latest statement. Each debt then shows paid so far, interest and fees logged, current balance, percent paid off and a status, from its place in the payoff order to "Paid off" with a check mark.

Payoff Plan

Choose Snowball (smallest balance first), Avalanche (highest APR first) or Custom (you number the debts). Type an extra payment, or your own monthly total. The monthly payment stays the same, so when one debt is paid off, its minimum rolls over to the next one. The plan shows the estimated debt-free month, the number of months, the estimated interest and the estimated total of payments. A comparison table sets your method beside the other one and beside minimum payments only, and a payoff-order table lists each debt with its estimated payoff month. All of these are estimates based on the numbers you type; your statements are the real figures.

Payoff Schedule

Month by month, for up to 360 months (30 years), the schedule shows the total payment, the interest, the principal, the balance left and the estimated payment for each debt. A dash marks a paid-off debt.

Payment Log

Up to 500 payments: date, debt (picked from your list), amount paid, the interest and fees from your statement if you like, and a note. The principal is worked out for you, and the Check column flags a row with a missing amount, a date that is not a real date or a debt that is not on your list.

Questions

Do I need Excel? No. A free Google account is enough: open the link in the PDF and click Make a copy. The .xlsx file is included for anyone who prefers Excel.

Can I print it? Yes. Every sheet is set up to print in landscape on US Letter. The Dashboard and Debts print on one page each and the Payoff Plan on two; the Payoff Schedule prints up to 36 months and the Payment Log its first rows, with the column headers repeated, and the note above the log explains how to print more rows.

Can I compare snowball and avalanche? Yes. The Plan sheet always shows both orders at the same monthly payment, plus minimum payments only, with the estimated months and interest of each.

My balance does not match my statement. What can I do? Type the balance and date from your latest statement on the Debts sheet. The current balance then starts from that statement and only counts the payments and interest you log after that date.

Is the debt-free month a promise? No. It is an estimate that assumes your APRs, minimums and monthly payment stay as they are and no new charges are added. Lenders may charge daily interest, fees or variable rates, so real figures will differ.

Keep the rest of your budget in view

For a monthly budget, bills and savings on your iPad, the Mint Money digital budget planner has a debt tracker of its own, and the Blush budget planner has the same pages in blush and plum. Find more in Money.

Download, license and returns

This is an instant digital download: nothing is shipped. Finding your files after checkout is covered in how downloads work. To open this one, use the Google Sheets link in the PDF (File, then Make a copy) or open the .xlsx file in Excel 2016 or newer. On an iPhone or iPad, tap the ZIP in the Files app to unzip it first.

• For personal use only. Please do not share, resell or redistribute the files.
• Digital downloads can't be returned, but if anything isn't working, contact us and we'll help.

This spreadsheet is a planning tool, not financial advice. The figures are only as accurate as the amounts you enter.