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Instructions - Read in full below
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I commit to paying$1,500.00
until my debt is 100% paid off
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DebtDebt BalanceMinimum PaymentActual Monthly PaymentExtra Amount
Paid off Date
Snowball Payment
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Travel Credit Card$4,114.28$181.00$639.00$458.00-$639.00
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Main Amex Credit Card$11,386.98$175.00$175.00$0.00-$814.00
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Chase Credit Card (Airbnb)$12,691.38$686.00$686.00$0.00-$1,500.00
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Student Loan (wife)$17,967.00$0.00$0.00$0.00-$1,500.00
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Student Loan (mine)$38,034.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00$0.00$0.00-$1,500.00
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$0.00$0.00-$1,500.00
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$0.00$0.00-$1,500.00
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$0.00$0.00-$1,500.00
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Total $84,193.64$1,042.00$1,500.00$458.00
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1. Only modify white text! Add names of debts, balaances to be paid and minimum monthly payments in order from least to greatest. DO NOT MOVE, REARRANGE OR SHUFFLE ROWS!!! If you accidentally mess up this spreadsheet, click this link to start over. If you don't need all 20 rows, leave the debt name blank and the minimum paymet amounts as $0
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2. Commit to a monthly debt pay amount. This will have to obviously be enough to cover much more than all minimum payments of $ BUT you want to commit to more so that you can pay the debt down fast. My suggest is to add double your first debt amount or at least $100 (which ever is more). You should commit to as much as you can without over extending your budget. Write your commitment in the white underlined box at the top.
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3. Once a debt is paid in full, delete white values or change the white values to $0 (Debt Balance and Minimum Payment) no need to change the actual monthly payment amount also to $0 it will be done automatically signalling that you have paid it off, but still don't delete the row!! (this will mess up the formulas, plus we want to see how far we have come).The rest of the spreadsheet will automatically update the next debt to pay extra on.
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