This was incredibly helpful. Student loan calculator estimated my loans would be paid off by 2043 but after watching this video and creating my own snowball spreadsheet it now says it will be paid off by 2028.
This is the best tutorial I’ve seen, and I’ve been looking at a lot! Down to earth, and clear for those of us who aren’t huge techs. Thank you so much!
Probably one of the best if not the best dive deep on debt payoff method with excel!! I wonder why not as many likes. Probably most people don't like math behind it? It worked for me even better where I have promotion rate that will expire soon, so I used your method to see how much I can put to pay off by due date where keep the others in min payment. Love it! I am also inspired by it reduces the debt. Best debt payoff simulator really! Thank you!
This is so simple, yet just complicated enough. THANK YOU for this awesome video. This helped visualize what I need to do, so this really serves to empower and help me see where and when my efforts to pay off debt can/will happen depending on how I pay. I really appreciate it!
SO helpful! Please make more videos like this of helpful tools...there's not enough customizable templates out there, and it's so much better to create yourself. I feel even more motivated to pay off debt now. Thank you!
Vertex42 has a great debt payoff spreadsheet. It won’t be exact for reasons he called out here (percentage rate and days of month), but it’s better than nothing. I’m trying to use that spreadsheet to learn more complex formulas but it’s a little out of my wheel house.
Thank you. We just moved country and we're moving into a new place in a couple week's time so lots of expenses. This will make it a lot easier to monitor and keep track of (re)payments and planning.
I've been looking for a good way to put all of my debts into a variable spreadsheet and this works great. Thanks for sharing! I also like to add up all of the numbers in the interest columns and put that in its own box below everything... makes you really see how much you're losing to interest :o
Thank you Dustin! Somewhere I messed up on my math because the amount I owe isn't the same as the sheet. I'll have to call account services to see exactly how they calculate things. Overall this tutorial was a huge help. ❤
Hey this has been very helpful thank you, however, I was wondering you made the first payment but never took this off on your first payment total am I right in thinking that the first amount should be deducted or should be left blank if you are starting from $5,500??
@DustinDavis PLEASE ANSWER - Hey your tutorial is great. But can you tell one thing that when you have changed the amounts like interest rates and monthly payments then you are altering the formulas again when the debts are paid off at the end, is there any way that it will be automatically done?
I'm not sure I fully understand your question. But when I manually enter adjustments the formulas work on the current amount so it is automatic. Once I pay off a debt there is nothing to update and I generally hide the columns.
Dustin, just found your channel and this incredible spreadsheet. I do have a question….if the monthly statement balance is different than my spreadsheet balance, should I change my balance on the spreadsheet for that particular month to agree with statement? Thanks, Diane from Arkansas
Yes, I update mine monthly. It is often slightly off for various reasons - generally due to how many days were in the month and how much interest accrued in those days. Or often you will pay more or less than planned. So adjusting the numbers to reflect actual balances keeps it a "living" debt snowball.
This is exactly what I have been looking for. Any tips on what I am doing incorrectly on not getting a zero balance when I am at 6:51? I am not zero'ing out as you are in the video :( Help
I've been paid bi-weekly, twice a month, and monthly. It works for any paycheck schedule. The reason to track it monthly is because debt payments are monthly. You can update your monthly row, twice in a month to see progress if you are making multiple payments. Just add the payments.
I've been paid bi-weekly, twice a month, and monthly. It works for any paycheck schedule. The reason to track it monthly is because debt payments are monthly.
I was 99% done finishing my version of this sheet, but one of my higher-balance credit cards will be paid off faster than lesser-balance cards due to my minimum payment amount. Not sure how to account for the extra money at the time and where to allocate it to.
I was thinking the same thing until I recognized that the minimum payments on credit cards will need to be adjusted each month. Paying the minimum on credit cards with slowly lower the minimum payment. To follow the debt snowball method the money saved by the lowering of payments should be added to your snowball.
This was incredibly helpful. Student loan calculator estimated my loans would be paid off by 2043 but after watching this video and creating my own snowball spreadsheet it now says it will be paid off by 2028.
This is by far the most simplest, clear and concise spreadsheet I have seen thus far. Thank you for the amazing tutorial!
Hands down, the best video I have seen. CLEAR, CONCISE, & QUICK! Thank you!
This is the best tutorial I’ve seen, and I’ve been looking at a lot! Down to earth, and clear for those of us who aren’t huge techs. Thank you so much!
Thank you Dustin! I created my first snowball spreadsheet. Just watching your video, very easy to understand. Thanks again.
Great Video if u have more content on budgeting and finances please make more videos. Thanks
Very helpful. The Best you tube video that explains HOW TO! all other channels are trying to sell something! Excellent. Many thanks.
Probably one of the best if not the best dive deep on debt payoff method with excel!! I wonder why not as many likes. Probably most people don't like math behind it? It worked for me even better where I have promotion rate that will expire soon, so I used your method to see how much I can put to pay off by due date where keep the others in min payment. Love it! I am also inspired by it reduces the debt. Best debt payoff simulator really! Thank you!
This was so helpful! As someone who stinks at setting up Excel sheets, this was very easy to follow and well done. Thanks!
This is so simple, yet just complicated enough. THANK YOU for this awesome video. This helped visualize what I need to do, so this really serves to empower and help me see where and when my efforts to pay off debt can/will happen depending on how I pay. I really appreciate it!
I have been searching for a format like this- THANK YOU! Super helpful and you did a fantastic job presenting it.
This is exactly how I made mine! So satisfying and I will have $108k in debt paid off by March 2024!
This is fabulous and I'm so happy it showed up in my debt snowball search! Thank you!!
Thank you for taking time to explain how to setup this simplistic template !! Ppl sell this advice so bless you for your generosity
Thank you for showing how to use excel for the debt snowball method, this was so helpful!
SO helpful! Please make more videos like this of helpful tools...there's not enough customizable templates out there, and it's so much better to create yourself. I feel even more motivated to pay off debt now. Thank you!
Vertex42 has a great debt payoff spreadsheet.
It won’t be exact for reasons he called out here (percentage rate and days of month), but it’s better than nothing. I’m trying to use that spreadsheet to learn more complex formulas but it’s a little out of my wheel house.
Thank you. We just moved country and we're moving into a new place in a couple week's time so lots of expenses. This will make it a lot easier to monitor and keep track of (re)payments and planning.
Fantastic! Works for any scale as well like some huge business debt. Very helpful. Thank you.
Thank you Lord! This is exactly what I needed! You need to optimize this Video....This is a life saver
This is a great tool, thank you for sharing!
Amazing. Really holding myself accountable! 🔥🔥
Thank you so much, this tutorial was exactly what I needed!
thank you! somehow my exes kept messing with the boxes and i had to redo a lot but i finally got it. life saver!!!!
Thank you for sharing this instructional video. You're teaching style is helpful.
Thanks Sir! The is the best snowball example everrrrrr!!!
This video helped me a lot, well done man. Thank you!
That was so easy to follow thank you so much. Just exactly what I needed. Thank you again.
That was such a helpful video, thanks so much Dustin.
This was an EXCELLENT tutorial! Thank you so much :)
Thank you so much for making this video!! It was extremely helpful!!
Thank you so much!! Exactly what I was looking for!!
Hi Dustin, Thank you for creating. Love it.
I've been looking for a good way to put all of my debts into a variable spreadsheet and this works great. Thanks for sharing! I also like to add up all of the numbers in the interest columns and put that in its own box below everything... makes you really see how much you're losing to interest :o
Thank you Dustin! Somewhere I messed up on my math because the amount I owe isn't the same as the sheet. I'll have to call account services to see exactly how they calculate things. Overall this tutorial was a huge help. ❤
Super helpful - thank you for walking through this setup.
Love this video! It is very helpful. I followed your steps but for Numbers which is on Mac/iOS products. Thank you!
Straight to the point
i know this is an old video, but helped alot. thanks
So much more accurate than the others! Awesome!
Good information...thanks for taking the time.
This video was so helpful, thanks for making it!!
This is a really helpful tutorial!! Thank you so much!!
Thanks, you did great!! Excellent tutorial and very well explained...........
This was great very helpful easy to follow
Thank you so much! So helpful!
you are awesome. this helped me a lot....thank you very much for this video.
Thank you thank you, this video is such a Blessing!!!!!
Thank you so much! Great tutorial!
thanks for this. easy to follow
Thank you so much for sharing this
Great tutorial, thank you very much!
Very Helpful. Thank you so much
Thank you! This helped so much!!!!
Thank you , can't wait to try it .
Good job! Very helpful.
Thanks so much for this. 👍
awesome ! thanks so much this is going to be great help to me !
shout out to you Dustin , hope you are doing good in life
Excellent! Thank you!
It is funny how I see sooo many youtube videos using your method lately. My guess they learned from yours and do not bother to give you credit
Thanks, brother.
Thank you!
I'll have to go back and slow this down. Hope you're debt free now!
❤❤ thanks for your help!
Thank you.
Wow, that's exactly what I was looking for. Send me the Spreadsheet please haha.
It's not letting me do the math of the interest rate payment?
Hey this has been very helpful thank you, however, I was wondering you made the first payment but never took this off on your first payment total am I right in thinking that the first amount should be deducted or should be left blank if you are starting from $5,500??
I keep getting the value error sign even after putting in the dollar sign. any tips?
👌🏻
@Dustin Davis - I'm having trouble with my spreadsheet formatting. Can I email you?
thank you so much, so helpful. Do you have one for debt avalanche also
its probably the same, however you prioritize higher interest rates instead of closest to being done.
@DustinDavis PLEASE ANSWER - Hey your tutorial is great. But can you tell one thing that when you have changed the amounts like interest rates and monthly payments then you are altering the formulas again when the debts are paid off at the end, is there any way that it will be automatically done?
I'm not sure I fully understand your question. But when I manually enter adjustments the formulas work on the current amount so it is automatic. Once I pay off a debt there is nothing to update and I generally hide the columns.
Is there a downloadable version
Dustin, just found your channel and this incredible spreadsheet. I do have a question….if the monthly statement balance is different than my spreadsheet balance, should I change my balance on the spreadsheet for that particular month to agree with statement?
Thanks,
Diane from Arkansas
Yes, I update mine monthly. It is often slightly off for various reasons - generally due to how many days were in the month and how much interest accrued in those days. Or often you will pay more or less than planned. So adjusting the numbers to reflect actual balances keeps it a "living" debt snowball.
Dustin,
How do I tell Excel to calculate the interest at the rate I enter instead of rounding up?
Thanks
Diane from Arkansas
Dustin, please disregard. I found my answer! Thanks.
Why when i copy the second row it copies the first row
This is exactly what I have been looking for. Any tips on what I am doing incorrectly on not getting a zero balance when I am at 6:51? I am not zero'ing out as you are in the video :( Help
I don't get zero neither. It is not working for me
How do I set it up if I want to have bi-weekly payments?
I've been paid bi-weekly, twice a month, and monthly. It works for any paycheck schedule. The reason to track it monthly is because debt payments are monthly. You can update your monthly row, twice in a month to see progress if you are making multiple payments. Just add the payments.
what if I get paid bi weekly? can you do a video based on that
I've been paid bi-weekly, twice a month, and monthly. It works for any paycheck schedule. The reason to track it monthly is because debt payments are monthly.
I was 99% done finishing my version of this sheet, but one of my higher-balance credit cards will be paid off faster than lesser-balance cards due to my minimum payment amount. Not sure how to account for the extra money at the time and where to allocate it to.
I was thinking the same thing until I recognized that the minimum payments on credit cards will need to be adjusted each month. Paying the minimum on credit cards with slowly lower the minimum payment. To follow the debt snowball method the money saved by the lowering of payments should be added to your snowball.
Just use a snowball debt calculator
This for tracking progress, not a one time snapshot that never goes according to plan.
AMEX is paid off monthly....
If you pay off your credit card monthly, then no need to add it to a debt tracker :)