Debt Snowball Worksheet {Free Printable}

The debt snowball method has been around for awhile – yes, longer than Dave Ramsey. While he seems to be the one who made this method famous (and attainable), the snowball method (also referred to as “avalanche”) has been in use by money savvy folk for years. I will admit, I only started using this method after my Mom went through the Dave Ramsey program and I saw how well it worked for her.

We have been doing the snowball method for a little over a year. I will tell you right now, the first year you don’t feel like you’re making any progress. Nope. I sat there thinking “is this working??” But, at the start of this year, I finally saw it start to work. Last year we paid off only one debt, but this year we have already paid off two – and it’s only February! So, depending on your debt situation and how much spare cash you have each month, it could take you a year to start seeing stuff go away. I can’t wait for the day it’s all gone.

I do use my auto-calculating snowball worksheet, but I also use a debt snowball worksheet to keep track of each payment. My auto-calculating sheet only tells me how much I’ve paid off and what’s left. These worksheets go payment-by-payment and keep all your debt info in one place.

Print off one worksheet per debt. Then, put it in your household financial binder. I highly recommend writing down the confirmation number (which is always provided with online payments, including bill pay through your bank). That way if a payment isn’t credited or received, you have proof right there at your fingertips!

Download your free copy of the worksheet below. I need to update the Printables page with all of these sheets I’ve been releasing for 2015, and will soon.

debt payoff snowball sheet

debt payoff snowball sheet



One comment

  • It’s taken us 6 years but we are debt free other than our mortgage. This has been a hard journey but so glad it’s done?.

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