They say in hindsight it’s 20/20 and I would definitely agree. I think we all agree that if I’d just picked one plan and stuck to it, I would have been out of debt much sooner. Even though our life was really what I consider a great adventure and roller coaster ride, I wish I knew then what I know today.
I thought I was sharing a resource that I actually found back then but never fully used or followed. The debt snowball excel template. I’m not sure what moved me to look for it all those years ago. But I’ve used the same thing every time I’ve been empowered to get out of debt.
Debt Reduction Calculator: Excel Template
If you scroll down about half the page, you can download the Excel template for free. They have paid versions below, but I don’t know what they contain. I’ve only ever used this free version. (There are no affiliate links here, no tracking, just a link to a spreadsheet that I still use to this day.)
The screenshot above shows where to put in your details and then on a different tab exactly how much to send to each debt each month. And gives you a slot to enter additional payments (which are always for your primary debt goal that month). It’s a really great tool. And every time I “restart” my payout journey, I have updated my numbers and the date.
Do it now, sacrifice now
I wish I had stuck to this plan all those years ago. I wish I knew how good deleveraging feels. It would have changed life in so many ways.
While I feel like I’m finally making good progress, I want to encourage anyone else who is just beginning this journey or starting it again, as I have often done … stick with it. Do it now. Sacrifice now. Wait for these purchases. Wait for these trips. Your children don’t need anything and can do anything.
This is where I am almost gone with my kids after struggling ALL THEIR LIFE and I have just come to a place where I wanted to be when they were young. Make the tough decisions now. You will thank yourself, I promise. And use this great tool as a guide.