How the Excel and Snowball Debt Calculators

Are you set to get out of debt? Well, some of the tools you will need to get out of debt include a debt calculator. It will let you know how deep you are in debt and how much income you can spare. Just as knowing where you are, is the first step to finding your way around when lost, a debt calculator is your financial compass. In this article, we are going to look at some of the best debt calculators you may use.

Excel Debt Calculators
The excel debt calculators are free to use if you have the Microsoft’s Office, OpenOffice, or even Google docs installed or accessible from your PC or mobile device.

All you need to use them to calculate your debt is to create a simple formula, and enter your numbers. That will be enough to show you what you owe.

If you do not have the formula or do not know how to create some, you may download templates that have the formulas already input in the spreadsheets. <docs.google.com/spreadsheets/d/1RJBOzs78YE9NkTg2Q43eMnhV3T2tlNDIgN3la-ONneo/template/preview?usp=drive_web>

Snowball Debt Calculators
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The Snowball Debt Calculators help you to clear your debt by focusing on the small balances rather than the huge balances. The methods works great because most of the expenses that can easily be managed and controlled aren’t the big expenditures that happen once in a while, but the small expenditures that occur weekly or daily.

The goal when implementing the Snowball strategy is to clear your small debts with the same zeal you would wish to clear the bigger debts. Then after a period of say three six months, you realize that you have made considerable progress, and that gives you the much desired proof that indeed you can clear your debts.

Conclusion
We hope that you will find the excel calculator and snowball debt calculator to be useful, and you will clear the debt by the end of the year. If not, you will still have made a major leap in the right direction.