Reader Question: How to Track Debt Snowflakes with a Spreadsheet


Paying Off Debt / Wednesday, November 30th, 2011

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:

As you can see, it only has three columns: one for the description of the snowflake, one for the amount, and one for the debt payment when it’s made.

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.

6 Replies to “Reader Question: How to Track Debt Snowflakes with a Spreadsheet”

  1. I’m impressed you got that much at Half Price Books! I always get nickles and cents for my bags full of books. I stopped going.

    Thanks for the reminder about getting that snowball rolling!

    1. FF, it’s been long enough ago that I don’t remember how many books that was or what kind of books they were. Non-fiction books are usually more valuable than fiction, especially fiction bestsellers. But, you’re right, most used books don’t bring all that much. Good luck with your snowball!

  2. I just found your sit and I love it! Thank you for all that you do to help us! I was wondering if you actually have a document that we could download that looks exactly like your snowflake spreadsheet that we can use? I tried to make one in Exel but could not figure out how to do it so it looks like yours. Thanks again!

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