Free Debt Snowball Calculator Program

If you’re using the debt snowball method to pay off your debt and curious how long it will be before you are debt free, this simple debt snowball spreadsheet calculator may help!  Best of all, you can download a trial version completely FREE!  The trial version allows you to enter up to 5 different debts in your debt snowball calculation.

I created this debt snowball spreadsheet to help my own family as we successfully paid off over $90,000 of consumer debt in two years!

free debt snowball calculator program for excel

Screen shot of the FREE debt snowball version allowing you to add 5 debt accounts. To add up to 20 different debt accounts you can upgrade to our premium version (see below).

Instructions for Downloading and Using My Free Excel Debt Snowball Calculator Spreadsheet:

If you haven’t already, you first need to download the program here (don’t worry, it’s FREE!) and then save it locally to your computer.

Step 1)

List your debts in the pink area by the order you plan on paying them off following the examples provided (remember, you must delete the example loans first before you can continue!).

You must also fill in the current balance, interest rate (APR), and minimum monthly payment.

REMEMBER:  The Free Trial Version only allows you to enter up to 5 different accounts to your debt snowball.  See below on how to purchase the premium edition of this program and unlock the ability to add up to 20 accounts!


Step 2)

Enter the number of the current month in the blue box (July is the 7th month, etc…)


Step 3)

Enter the current year in the red box.



Step 4)

Any extra money you can squeeze out of your budget each month should go in the bright green “Extra Payment” box below.



Step 5)

Click the “results tab” at the bottom of the page to see the amortization of your debt snowball and your projected DEBT FREE Day!


The Results Page:


When you click the results tab, you will see the screen above.

The first 4 lines across the top show the date of each payment, each month’s growing “snowball payment”, your ongoing extra payments, and any additional “bonus payments” (see below) you intend to make.  No matter how far down you scroll, this information stays fixed at the top of the display.

Next you will see balance information for each loan you have made, interest paid, the amount available to pay on the debt, the actual amount paid on the debt,  and the new balance after the payment is made.

To determine the day you will be debt free, simply scroll down to the last debt ( if you have listed your debts smallest balance to highest) and follow the “balance” line over until the balance says “Paid Off”!  Congratulations this is your debt free day!

***Bonus Payments***

On the “results tab” you can enter an additional bonus payment (on the yellow line) for any individual month you wish.

In the example below we’ll assume you are getting a one time “Christmas Bonus” in December which you intend to add to your debt snowball payment.  Just enter 2000 in the “one time bonus payment” box for Dec-09 (or whatever month you expect extra cash) and the spreadsheet automatically updates.


It’s as easy as that! I hope you found this program helpful!  If you have any question or comments, please fill out the form at the end of this post and I will try to respond as quickly as I can!

Upgrade to the Premium Version!


Do you have more than 5 accounts that you want to include in your debt snowball calculation?  Upgrade to the premium debt snowball calculator today and gain full access to the program allowing you to add up to 20 different debts.


Disclaimer: The program is provided for entertainment purposes only and no warranty is given about it’s accuracy. To be sure your financial concerns are fully addressed, you should seek advice from a professional finance guru of which I am not!

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