Snowball or avalanche, which should I use?

Avalanche (highest interest rate first) saves more money overall; snowball (smallest balance first) tends to keep people motivated longer. This tracker works for either.

How many debts fit on one page?

Ten rows are included, enough for most people's full debt list on a single sheet.

What if a debt isn't paid off by the time I fill a new sheet?

Carry its current balance forward as the new sheet's starting balance and keep going until it reaches zero.

Should I include a mortgage on this sheet?

You can, but many people track it separately on the Mortgage Payoff Tracker since it runs on its own multi-year timeline.

How often should I update the Current Balance column?

Monthly is enough for most people, right after a statement closes, so the number reflects a real balance rather than a guess.

Free Debt Payoff Tracker Printable

See every debt in one place, side by side. This tracker helps you compare balances and interest rates so you can decide whether to snowball or avalanche, and log payments as you make them.

Debt Payoff Tracker
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Debt Payoff Tracker · budgetnook.org

Debt Name	Starting Balance	Interest Rate	Min. Payment	Current Balance

Your entries are saved in this browser only, so you can come back to them. Nothing is uploaded.

How to Use This Printable

List every debt: credit cards, loans, and balances owed to family.
Fill in the starting balance and interest rate for each.
After each payment, update the Current Balance column.
Order the rows by interest rate (avalanche) or balance size (snowball), whichever method you're using.

Snowball, avalanche, or a mix

The avalanche method pays the highest interest rate first and costs the least over time. The snowball pays the smallest balance first and clears whole debts early, which keeps a lot of people going. This tracker supports either: sort the rows by interest rate for avalanche, or by balance for snowball, and switch if your motivation dips.

What counts as a debt to list

Include everything you owe: credit cards, car and personal loans, student loans, buy-now-pay-later plans, medical bills, and money borrowed from family. Leaving a debt off the sheet because it feels small or informal is how it gets ignored for years.

Keeping it accurate

Update the Current Balance column after every payment, not once a month from memory. Start a fresh sheet each quarter so you can lay them side by side and see the balances falling. That visible trend is a large part of what keeps the plan alive.

Learn More

Ideas for Using This Printable

Use one sheet per quarter so you can see your progress trend over time.
Combine with the Monthly Budget Planner's Debt Payments row.
Highlight the smallest balance if you're using the snowball method, for quick early wins.

Related Printables

FAQ

Snowball or avalanche, which should I use?: Avalanche (highest interest rate first) saves more money overall; snowball (smallest balance first) tends to keep people motivated longer. This tracker works for either.
How many debts fit on one page?: Ten rows are included, enough for most people's full debt list on a single sheet.
What if a debt isn't paid off by the time I fill a new sheet?: Carry its current balance forward as the new sheet's starting balance and keep going until it reaches zero.
Should I include a mortgage on this sheet?: You can, but many people track it separately on the Mortgage Payoff Tracker since it runs on its own multi-year timeline.
How often should I update the Current Balance column?: Monthly is enough for most people, right after a statement closes, so the number reflects a real balance rather than a guess.