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Snowball Calculator Excel Template

What is a snowball calculator? The snowball method is a type of rollover strategy for both debt payoff and savings goals. A debt snowball calculator is a modern term for the old idea of allocating your savings to multiple goals based on priority and then focusing on one goal at time.

The Savings Snowball Calculator below is an easy-to-use spreadsheet for Excel that can help you estimate how long it may take you to reach your short-to-mid-term goals. You can customize your plan and experiment with saving different amounts.

How does a debt snowball calculator excel work?

The snowball is the amount of budget savings left over after making minimum payments. You throw the snowball at your top priority goal until it is complete, then you throw it at the next goal. Your snowball can increase as you pay off debts and roll the previously required minimum payment into your snowball.


Let’s say you can afford to pay $200 per month towards your savings and debt payoff goals, which are (in order of priority):

  1. Save $1000 as a safety reserve.
  2. Pay off a credit card (which has a minimum payment of $30).
  3. Save $3000 in an emergency fund.

At first, the only required monthly payment is $30, so you have a snowball of $200-$30 = $170 that you will put into the safety reserve.

As soon as you reach $1000 in your safety reserve, the $170 snowball is use to pay down the credit card.

After the credit card is paid off, the snowball grows to $200 (because you are no longer paying $30 on the credit card). The entire $200 can apply to the emergency fund.

A savings snowball is a modern term for the old idea of allocating your savings to multiple goals based on priority and then focusing on one goal at time.

What does snowball mean in business?

The Snowball Strategy is about patiently building relationships over time and not rushing in to sell everything you can to a potential new client. It’s about starting small and then growing the client relationship with bigger projects that add more and more value to their business. It’s a win-win situation.
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Download Guide

Compatible with : Microsoft Office Excel, Libra Office, WPS Office, Google WorkSheet
  • Download The Template XLSX File Format
  • Use the Template

Download Instruction :

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