Debt Payoff and Monthly Bills Spreadsheets

This is a bundle of three spreadsheets. The first spreadsheet is for your monthly bills, the second spreadsheet is to track your debts as a whole, and the third spreadsheet is to PLAN YOUR DEBT PAYOFF. 

Each spreadsheet is PRE-FILLED with the formulas to calculate EVERYTHING for you, all you have to do is plug in YOUR INFO. 

The Monthly bills will take your paycheck amount and deduct out the bills you pay every month as you list them next to that desired payroll. On the far right it will calculate what is left of your paycheck or how short your paycheck is. I have also included columns for savings and retirement. It is NEVER too early to save. Even if it's only $1 per check, IT WILL ADD UP.

Debt progress will track all of your debt,(just debts, not things such as utilities or phone bill) by telling you how long it will take to pay them off. You can list them by smallest balance, smallest interest rate, whatever path you want to take and it will calculate the payments left for you. Now keep in mind these are only CLOSE calculations. When you are paying things like credit cards for example, the date paid will factor into how much interest you are actually charged, so you will likely be off, but only a couple dollars. Also, if you were to use your card or incur a late fee, those instances wouldn’t be figured in. 

The bottom of this spreadsheet will tell you the total months you could be debt free, as long as you don’t change the TOTAL PAYMENTS. What this means is if you look at the example, when the “example 1” bill is paid off, you would take that $50 payment and apply it to another bill. That way the total payments for the month doesn’t go down by $50. To make the spreadsheet calculate this, once you have all your debts listed, you will manually enter the totals into the gray boxes below them. As you do this, the green boxes at the bottom will become zeros - THIS IS CORRECT. Once something changes, the green boxes will update with new figures showing how much you have paid off. 

The last spreadsheet is the Payoff spreadsheet. This sheet calculates your PRINCIPAL on your debts (again, not utilities or phone bills, debts that have an end). It works the same as the debt spreadsheet in that if you keep your monthly principal amounts the same you can speed up your debt payoff. To populate this spreadsheet you will simply fill out your starting balance at the start of the year and then you will populate what each PRINCIPAL payment will be (you can base it off the figure on your debt progress page). 

I manage my finances smallest to largest, so when I pay off something small, I add that payment to the next smallest bill. You can do yours however works best for you. I actually have the payoff spreadsheet filled out for myself all the way up to 2026, the year I should be debt free if I stay on track! Now when I say debt free, I do mean EVERYTHING I owe as of right now. House, vehicles, credit cards, student loans, EVERYTHING. I can see the progress and plan it out ahead of time. 

The file format is excel. This file can easily be copied and pasted into Google Sheets as well for use on the go!