A reader named Rebecca emailed me with the following question:
I just opened my Perk Street account and I have written down all my
debts and am trying to work on the snowflake method so that I can
track my debt and paying it off. I was wondering if you would be
willing to share your spreadsheet– or something similar — blank of
course- so that I would know where on earth to get started.
I’ll tell you — as I told Rebecca — that I’m almost embarrassed to share my spreadsheet because it’s so simple. But I like having a visual reference for something I’m trying to create (i.e. I like to copy things) so here’s a screenshot of it:
Honestly, the biggest benefit of the spreadsheet for me is not so much organizational as it is inspirational. I love looking back at how little amounts have added up.
Our debt snowball is on pause for the month of December so we can do Christmas with cash, but putting this post together has motivated me to hit the ground running in the new year.
So thanks for the question, Rebecca, and good luck with your debt payoff!
This post is part of Frugal Fridays at Life As Mom.