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.

### Example

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.

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Instruction :

All Excel templates and tools are sole property of xlsxtemplates.com. User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from PPTXTemplates.com  Completely Free. All our templates are designed by Professionals

Snowball Calculator Template

### Insurance Quote

Introduction: Streamlining Insurance Quotations An insurance quote is a vital document in the insurance industry, serving as a preliminary estimate of premiums for potential clients.

### Freelance Quotation

Introduction: Mastering Freelance Quotations In the world of freelancing, creating an effective quotation is crucial for outlining the scope and cost of your services to

### Fencing Quotation

Introduction: Navigating Fencing Service Quotations A fencing service quotation is an essential tool for businesses in the fencing industry. It provides potential clients with a

### Event Planning Quotations

Introduction: Excelling with Event Planning Quotations An event planning quote is a critical document for event planners, detailing proposed services and costs for organizing an

### Construction Quote

Introduction: Optimizing Construction Quotations A construction quote is a fundamental document in the construction industry, serving as a formal proposal of costs for construction services

### Cleaning Quote

Introduction: Perfecting Cleaning Service Quotations Creating an effective cleaning service quotation is crucial in the cleaning business. It serves as a formal proposal outlining the