Matt here, the husband with Meixsell Living. As a Law enforcement officer, I have gone to many disturbances. Most of these disturbances were verbal in nature and the cause of the argument was about finances. On a few off chances that it was a slow day, I would take my time and try and help them out with the little bit of knowledge I have about finances.  My goal here is to provide a free debt snowball spreadsheet to help you get out of debt, and hopefully stay out of debt.

I hope the following spreadsheet helps, and I that I do a good enough job explaining how to use this debt snowball spreadsheet.

**DISCLAIMER: I am not a financial advisor nor is this financial advice in any shape or form. 

Must Do First

Once you get the spreadsheet go to the top left and click the file button.

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 Once you click on the file button you will see a Make A Copy.

Make a copy and save it to your computer:

If you do not make a copy everyone will be able to see what you are doing.

The following photo is an overview of what the spreadsheet will look like. 

MP = Monthly payments.

If you need to make a change to the date, Click on A6 and just change the month and the year. You don’t have to worry about changing the day. Once you change the dates the rest of the collom will change. If you need more months all you have to do is click on the last month and drag down.

Next, you will change “who you are debt to” to who you are actually in debt to. 

After you put in who you’re in debt to, now it’s time to start putting in numbers. 

MP = Monthly payments 

Balance is how much you still owe

Interest is what you have on the debt

For the fastest results start with your smallest balance, ending with your largest. Once you plug in your information you will drag the MP column down. After you drag down the MP column, you will then do the same thing with the Balance column, till you reach zero or your first negative number.    

Now after you import your smallest debt, next add your second smallest debt. Repeat the process. But stop at where the previous debt ended and add that number to your monthly payment.

FOR EXAMPLE:  In the diagram below the MP for your smallest debt let’s say it was $75. Once you pay off your smallest Debt you will then take that $75 payment and add it to your next debt, which is $90. So instead of making the minimum payment of $90, you are now making 165 dollar payment, toward your debt. You will continue to use this same process over and over.

If you need more space to enter your debt follow the following steps.

1. Copy the following by highlighting the boxes.
2. Paste the above to the far left, which will be your biggest debt.
3. Once you Paste the above box to the far right, you will then need to change the formal. The formal will look like this.
4. In whatever column the interest box is in you will need to change the letter that is between the dollar signs which will look like this.

To get this spreadsheet you must go and follow our Instagram page at Meixsell_Living. Once you are following us find the post about Debt Snow Ball, and leave a comment. We will send you the free Debt Snowball spreadsheet. And remember, when you open the spreadsheet make sure you SAVE A COPY. Otherwise, it’ll update the main spreadsheet and everyone will see what you have typed in.

If you need help in any way, please reach out to me, Matt. Either on social media or at [email protected] and put in the subject line: DEBT SNOWBALL HELP. I’ll get back to you within a few days.