Debt Payoff Template
List every debt with balance, APR, and minimum payment — totals, monthly interest per debt, and your blended APR compute automatically.
Preview
The workbook ships with the example values below plus blank rows — every total is a live formula.
| Debt | Balance | APR | Min payment | Monthly interest |
|---|---|---|---|---|
| Store card | $1,200.00 | 27.99% | $45.00 | $27.99 |
| Credit card A | $4,800.00 | 22.90% | $120.00 | $91.60 |
| Credit card B | $2,300.00 | 18.40% | $70.00 | $35.27 |
| Car loan | $11,500.00 | 6.90% | $310.00 | $66.13 |
| Student loan | $18,000.00 | 4.50% | $190.00 | $67.50 |
| Totals | $37,800.00 | 11.3% avg | $735.00 | $288.49 |
How to use it
- Copy balances and APRs from each statement (use the purchase APR for cards).
- Monthly interest per debt calculates as balance × APR ÷ 12 automatically.
- Sort or re-order rows by APR descending — that is the avalanche order, the mathematically cheapest payoff sequence.
- Pay all minimums, then throw every extra dollar at the top row; when it dies, roll its payment into the next.
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Free for personal use. The file contains no macros — just data, formatting, and standard spreadsheet formulas that work in Excel, Google Sheets, and LibreOffice.