Top 4 Free Get Out of Debt Spreadsheets

1. The Ultimate Debt Reduction Calculator

The guys at created this super amazing Debt Reduction Calculator in .XLS format that will help you keep track of your debts and your progress for paying them off. We really like this spreadsheet because it incorporates the Snowball Strategy which basically involves you paying off your lowest balance debts first rather than your highest balances. You can learn more about Snowball strategy from Dave Ramsey here.

However you can also choose the Avalanche Strategy which involves paying off your highest balances first which is a more traditional approach to paying off debt. There’s a simple dropdown option within the sheet where you can choose which strategy you want to incorporate.

This is by far the most complex and helpful “get out of debt” free spreadsheet that you can find on the web. We highly recommend downloading this thing and getting started with it.

2. FLOP Net Worth Sheet

FLOP stands for “financial life on one page” created by This spreadsheet will allow you to manage your overall financial status personally or as a family. The basic idea of this spreadsheet is to keep an up-to-date tally of all your Assets and Liabilities. Then calculate this simple yet powerful formula:

Assets – Liabilities = Net Worth

What you consider an Asset is entirely up to you. Some consider an Asset something they own. Others only something that makes them money. This totally depends on your own financial theories. Whatever you do be sure to list every single Asset and Liability so that you can calculate a true Net Worth.

3. Bill Payment Schedule Sheet

Which bills have you paid this month? Which bills have you not yet paid? When did you pay them? When are they due? One of the root causes of us falling into debt is our inability to manage our current bills properly. This spreadsheet created by is meant to help you with this.

This spreadsheet also implies the use of a strategy that forces you to pick 2 days each month, one at the beginning of the month and the other towards the middle of the month to pay your bills. So in this sheet you organize your debts by what days they are due and what days you are actually going to pay them. If you get paid twice per month, this sheet recommends you use those 2 days as your “paying the bills” days.

Whatever you choose to do, this sheet will help you tremendously. Say goodbye to the days of forgetting to pay your bills!

4. Simple Yet Powerful Budget Template

Sometimes more simple equals more genius. When it comes to a personal finance budget spreadsheet this couldn’t be more true. After downloading and testing dozens of other spreadsheets it turns out you really don’t need that much. Simplicity is what you need at the end of the day.

This free Spreadsheet simply allows you to throw in your purchases each day/week/month and assign each to a category. The calculations then automatically gather all expenses from each category and add them up against a budget limit.

Unlike many other budget worksheets, this won’t take up all your time. Literally 2 minutes a day at best updating this sheet and you will be on track of your ENTIRE BUDGET!!!