List every debt, track your monthly payments, and watch your balances shrink. Works with both the avalanche method (highest interest first) and the snowball method (smallest balance first).
What’s Inside
- 8-row debt table: name, balance, interest rate, minimum payment, extra payment, payoff target
- 12-month payment log grid for each debt
- Progress notes section
- Avalanche and snowball method tip included
Print tip: Works on standard letter (8.5×11″) or A4 paper. Print at 100% scale with no page scaling. Designed to be printed and filled in by hand.
How to Use This Template
- List every debt before deciding on a payoff method. You need the full picture first. Do not leave anything out.
- Choose your method: avalanche (highest interest rate first) saves the most money over time; snowball (smallest balance first) builds the fastest momentum.
- Enter the minimum payment for every debt, then put any extra money toward your priority debt only.
- Update the monthly log on the same date each month. Consistency in tracking matters as much as consistency in paying.
Frequently Asked Questions
Which is better: avalanche or snowball?
Mathematically, avalanche saves more money. Psychologically, snowball works better for people who need early wins to stay motivated. Pick the one you will actually stick to.
How many debts can I track?
The tracker has 8 rows. If you have more than 8 debts, print two copies and use the second for overflow. Prioritise your highest-interest debts on the first sheet.
Should I include my mortgage?
Most people track high-interest consumer debt here (credit cards, personal loans, car loans) rather than mortgages. But there is no rule; add whatever debts you want to actively pay down.
Is this free to download?
Yes, completely free. No email required. Print and use as many copies as you need for personal use.