Fill in the Debt Accounts you want to pay off Use this to see how different payment amounts affect your Projected Debt Freedom Date and Estimated Total Interest. You can also overwrite the amount as preferred. This will automatically updates using the amount from the left side area based on expected income/expenses for each month. Read more about different methods on our blog here. The Debt Payoff Calculator template offers the three most popular methods: Snowball, Avalanche, and Ranked. Choose a Payoff MethodĮvaluate the best debt payoff method for your situation. However, if you’re using Tiller to automate your balance data into this spreadsheet and are already working toward debt payoff, you can set this to the earliest month available in your Balance History for your debt accounts. I recommend setting this to the current month. Once your expense category budgets are configured and your expected monthly income entered into the Categories sheet use the Monthly Budget to review your Spending Budget and Income Budget amounts for the debt planner setup. If you need help figuring out your expected income and expenses check out these resources for budgeting features with this template.
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Whatever is left can be used toward paying off debt. To find this number, enter your expected monthly income and expected month expense into the cells in the sheet. Your debt payoff budget is the amount you can spend toward paying off your debt every month. How the Debt Payoff Calculator works Start by determining how much you can afford for monthly debt payments Click “Use Template.” Import your bank data to see how this spreadsheet works. If you don’t use Tiller, open this free version of our Foundation Template for Google Sheets. If you’re collaborating on your calculator template with other people, consider uploading it to OneDrive and sharing the link so everyone can easily edit and contribute to the calculator.If you use Tiller, simply copy the Debt Planner sheet to your existing Foundation Template for Google Sheets: Download and share them online or via email or print them out once you’re done editing.
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Even make the calculator look just how you want by editing the text, spreadsheet colors, and more-they're all fully customizable. All templates have pre-loaded formulas, so you can simply type in the numbers and let the calculator template do all of the hard work for you. These stylish Microsoft Excel calculator templates are easy to use, even if you’re not an Excel expert, and they're perfect for business or personal use. Even track and calculate charitable gifts and donations, investments, net worth, or student loans. Use mortgage calculator templates to figure out when you can pay off your loans or use budget calculator templates to help you save money. These calculator templates can help you with your mortgage, loans, budgeting, and more.
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