The Debt Reduction Calculator gives you simple worksheets to complete to help you get out of debts like credit cards, student loans, and auto loans using the principles of the Debt Snowball strategy. You can download the worksheets free, and they allow you to calculate which method works best for your situation - paying highest interest debt first or paying lowest balances off first. You can see the results and the amount of time they will take with these free downloaded worksheets.
The first worksheet is a calculator where you list your debts, choose a monthly payment amount and it will give you the results based on the information you enter. You can alter your monthly payments to see how it affects the outcome of paying off your debts, which helps you develop a strategy that works. The second worksheet is your payment schedule to help you see how you are doing in paying the debt down, allowing you to track your progress. It helps you see the results as you go, which can give you motivation to stick with the payment schedule or accelerate it when you are able to with any extra money that results from paying debt off.

