Money@: Debt Destroyer Spreadsheet – How To

Quick Start

Detailed Usage Guide

Overview

The Money@: Debt Destroyer spreadsheet helps you:

• Align bills with paychecks
• Track and eliminate debt using the snowball method
• Manage your money with confidence

Getting Started

Key Concepts

Debt Destroyer Balance vs Bank Balance

• Debt Destroyer shows available funds, not your bank balance
• Your bank balance may be higher than Debt Destroyer shows
• Consider the Debt Destroyer balance your “available to spend” amount—it’s where your money’s at!

Bills to PayDayPay Workflow

1. Bills tab holds estimated/average amounts
2. PayDayPay shows actual amounts for each period
3. Update PayDayPay with real amounts as bills arrive

Split Payments

• Large bills can span multiple pay periods
• Example: $1,600 rent split across two $800 payments
• Track each portion in its pay period

Detailed Sheet Guide

1. Debts Sheet

Purpose: Tracks all debts and feeds Snowball calculations.

Setup

• Enter debts in preferred snowball order
• Update balances monthly
• Monitor credit utilization indicators

Key Features

• Conditional formatting for credit cards
  • Red: Over limit
  • Yellow: ≥70% utilized
  • Pale yellow: ≤30% utilized
• Summary calculations

2. Snowball Sheet

Purpose: Calculates debt payoff timeline and automates snowball method.

Initial Setup

1. Enter snowball amount in Column B
2. Select debts using dropdowns
3. Verify initial balances

Monthly Updates

1. Update current month balances
2. Monitor projected payoff dates
3. Adjust snowball amount if needed

Key Features

• Automatic payment rollover
• Interest calculations
• Payoff date projections

3. Bills Sheet

Purpose: Central repository for all recurring bills and foundation for PayDayPay planning.

Setup

• Enter bills in order by due date
• Use numeric due dates (1-31), not actual dates
• Enter estimated/average amounts

Key Fields

• Name: Bill identifier
• Due Date: Day of month (integer)
• Amount: Typical amount due
• Account, Website, Note: Reference only

Monthly Maintenance

• Update amounts if consistently different from estimates
• Add new bills as needed
• Consider hiding old rows yearly for performance

4. PayDayPay Sheet

Purpose: Aligns bills with paydays and tracks actual payments.

Pay Period Setup

1. Enter pay date in leftmost column
2. Add bills due before next paycheck
3. Include split payments where needed

Copying Between Periods

1. Select rows from previous period
2. Copy and paste below last entry
3. Clear “Date Paid” and “Amount Paid”
4. Update for current period

Copy-Paste Workflow

1. Select Previous Pay Period
   • Click first row number
   • Drag to last row
2. Copy Selected Rows
   • Right-click > Copy, or
   • Ctrl/Cmd + C
3. Paste Below Last Entry
   • Click first empty row
   • Right-click > Paste, or
   • Ctrl/Cmd + V
4. Clear Payment Information
   • Select “Date Paid” and “Amount Paid” columns
   • Delete contents (not columns)
5. Update for Current Period
   • Verify bill amounts
   • Remove irrelevant items
   • Add new bills as needed

Important Concepts

• Money@ balance vs bank balance
• Handling unpaid bills
• Split payment tracking

Real-World Scenarios

Scenario 1: Split Rent Payment

Example: $1,600 monthly rent split across two paychecks

1. Bills Sheet Setup
   • Enter full amount ($1,600)
   • Note “split payment” in comments
2. PayDayPay Implementation
   • First paycheck: $800 allocation
   • Second paycheck: $800 allocation
   • Track both entries

Scenario 2: Variable Utility Bill

Example: Electric bill varying seasonally

1. Bills Sheet Setup
   • Enter average amount
   • Note “variable” in comments
2. PayDayPay Handling
   • Update actual amount when bill arrives
   • Adjust other allocations if needed

Scenario 3: Credit Card During Payoff

Example: Using credit card while paying it off

1. Debts Sheet
   • Update balance monthly
   • Note new charges in comments
2. Snowball Impact
   • Higher balance affects payoff date
   • May need to adjust snowball amount

Scenario 4: Reordering Debts Mid-Snowball

Example: Changing debt priority

1. Excel Process
   • Use “Insert cut cells”
   • Verify formula updates
2. Google Sheets Process
   • Multi-step reordering
   • Formula verification

Enhanced Monthly Workflow

Start of Month

1. Update Bills Sheet
   • Verify all recurring bills
   • Update average amounts if needed
   • Add new bills
2. Update Debts Sheet
   • Update all balances
   • Check for rate changes
   • Verify minimum payments
3. Prepare PayDayPay
   • Copy previous period
   • Clear payment tracking
   • Update starting balance

Each Pay Period

1. Initial Setup
   • Verify starting balance
   • Check upcoming bills
   • Plan split payments
2. During Period
   • Track payments as made
   • Update actual amounts
   • Note any variances
3. End of Period
   • Reconcile payments
   • Plan next period
   • Note any issues

Monthly Debt Update

1. Update Debts sheet balances
2. Verify Snowball calculations
3. Adjust snowball amount if needed

Troubleshooting Guide

Common Pitfalls

1. Formula Overwrites
   • Affected areas
   • Prevention steps
   • Recovery options
2. Copy-Paste Errors
   • Common mistakes
   • Verification steps
   • Correction process
3. Balance Mismatches
   • Causes
   • Detection
   • Resolution

Common Issues

• Formula overwriting
• Copy-paste errors
• Balance mismatches

Excel vs Google Sheets

• Copy-paste differences
• Conditional formatting variations
• Backup procedures

Best Practices

Data Management

• Regular backups
• Annual sheet cleanup
• Balance reconciliation

Financial Tips

• Maximizing snowball amount
• Handling variable bills
• Emergency fund considerations

Future Migration

• Keep data clean and formatted
• Maintain payment history
• Follow recommended workflows

Version-Specific Notes

Excel Users

• Enable macros
• Save to OneDrive for history
• Use “Insert cut cells” for debt reordering

Google Sheets Users

• Make copies for backup
• Use version history
• Follow multi-step debt reordering process

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