Free Debt Reduction Snowball Calculator for Excel

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I found this Debt Reduction Snowball Calculator while search for a work schedule form. This Excel template is completely free and worth downloading. Here is the description and a screenshot.

Use our free Debt Reduction Calculator to help you eliminate your credit card, auto, student loan, and other debts. Easily create a debt reduction schedule based on the popular debt snowball strategy using this free Excel spreadsheet.

The first worksheet is a simple calculator where you enter your information, choose your total monthly payment, and see a summary of the results based on the strategy you choose.

The second worksheet is a payment schedule designed for you to print so you can keep track of your progress. You can also see how the snowball increases as you pay off your debts.

A big thanks to Donald Wempe for the motivation to create this spreadsheet, and for his great ideas!

You can download this Debt Reduction Calculator by visiting Vertex42.com

April 25, 2008 | Filed Under Financial Goals, Financial Planning, Free Budget Forms | 1 Comment 

Paying Off $90,000 in Debt in Two Years - Debt Freedom

Check this out on Dave Ramsey’s talk show. This family paid off $90,000 in debt two years. That is a lot of money!

February 18, 2008 | Filed Under Dave Ramsey Financial Freedom, Financial Freedom Journey Pep Talk, Financial Goals | Leave a Comment 

Happy New Year! My Top 5 Financial Goals For 2008

I thought today would be a good day to share my financial goals for 2008. I encourage you to share your goals as well by leaving a comment on this post. I think there is power in setting goals and today is the best day to start setting them.

My Top 5 Financial Goals for 2008

  1. Increase income through blogging to at least $1,000 a month. I hope to increase my income by continuing to blog on my existing blogs as well as two other blogs I plan to start this year. I also hope that my income will increase through a few other online ventures.
  2. Save over $1,000 for emergency fund. We have found that $1,000 is not enough of a cushion. Our cars are getting old and need a lot of repairs
  3. Reduce debt by $5,000. This is going to be a difficult goal to accomplish for us but I think it’s a goal worth setting.
  4. Be more consistent with my budgeting. I am a firm believer in budgeting but truth be told, I sometimes miss a few months of budgeting in a year. Each time I do this I loose focus which usually causes ciaos.
  5. Give more. We regularly give to our church but I want to step up my giving to people in need. I want to have a budgeted section for extra giving.

So these are my goals. Do you have any goals? Please share :)

January 1, 2008 | Filed Under Blogging Goals, Budgeting, Financial Goals | Leave a Comment 

A Financial Reflection of 2007

Today is the last day of 2007 and I thought it would be a good time to reflect on the past year financially. Our income has increased through my blogging but with gas prices also increasing there hasn’t been a very noticeable difference (my husband commutes to work). It feels as though things have improved but the actual numbers aren’t showing much improvement from last year.

Our “gazelle intensity” has reduced significantly and I think it has to do with the fact that things don’t appear to be changing very. Things are improving slowing but not as fast as I would like it to. We have not acquired any new debt since November of 2005 and I am quite proud of that. Even when times were tough we decided to trust that God would provide and He always did.

There are some things we decided not to give up that would have probably helped our financial situation. Our two horses have added to our expenses but I don’t want to give them up because quite frankly, I am attached and good horses are hard to find.  Unlike a car or a boat, it takes time for a horse and human to bond. Time invested in training and bonding is not simple process either. My husband and I both realize that by not letting go of these horse we are sacrificing at hopes of gaining financial freedom sooner than later but we feel it is worth it anyway.

Though things did not go the way I had hoped this year I am still hopeful that next year will bring better results. There are a lot of plans in the making for increasing my income in 2008 and I am confident that my income will increase. Now that I have my own laptop I am able to work more in less time which means the new year will be far more productive than this year.

Investing time into blogging and other online ventures is very important key in success. Since I am a home schooling mother of two children and a toddler, time is usually not on my side. As a wife, work-at-home mother and teacher, I have had to find balance this past year. This is not an easy task because there are so many responsibilities that need balance. This past year I decided that what time I could contribute to my online ventures would have to be enough and have asked God to bless the time I could contribute. Just about on a daily basis I have asked God to bless my efforts. By giving up my perception of control and allowing God to do His work in me, He has truly blessed my efforts.  I will continue to do this in 2008 and believe that God will continue to bless my efforts.

My hope is that this blog as well as my other blog can be an encouragement to the people who read it. Whether it is that you can relate to our families financial struggles and find comfort in that or that you have found information I have posted useful my hope is that this blog can be helpful to it’s readers. Have a Happy New Year!

December 31, 2007 | Filed Under Dave Ramsey Financial Freedom, Financial Freedom Journey Pep Talk, Financial Goals, Financial Planning, Life Goals | 1 Comment