Irish credit cards typically charge around 22.9% APR. Enter your balances and monthly budget to see exactly how much interest each strategy costs — and when you'll be debt-free.
Take three common Irish debts: €4,000 credit card at 22.9% APR (€80 min), €1,500 overdraft at 18% APR (€30 min), and €5,000 personal loan at 10% APR (€105 min). With a €400/month total budget and avalanche, you attack the credit card first — saving roughly €250 in interest versus snowball.
Both strategies start the same: pay the minimum on every debt each month. The difference is where any remaining budget goes.
Avalanche piles the surplus onto the highest-rate debt. In Ireland, that's typically a credit card or retail store card. Clearing these first minimises total interest.
Snowball piles the surplus onto the smallest balance. You eliminate individual debts faster, which feels motivating — but if a small debt has a low rate, you're leaving high-rate debt to compound.
Ireland's credit unions often provide debt consolidation loans at competitive rates. If consolidation makes sense, run this calculator with the combined consolidated loan as a single row to verify the saving.
For a deeper dive into the mathematics and the behavioural research, see our guide to the debt avalanche method.
Both methods have you pay minimums on all debts, then direct extra budget at one target. Snowball targets the smallest balance first; avalanche targets the highest APR first, minimising total interest paid.
Avalanche is always mathematically optimal — it minimises the rate at which interest accrues across your whole portfolio.
Research suggests many people stick better with the snowball because eliminating individual debts provides visible progress. Choose whichever you'll actually follow through on.
Irish credit card minimum payments are typically 2% of the balance or €10. Paying only the minimum keeps you indebted for decades. Even an extra €50/month directed at your highest-rate debt can cut years off your timeline.
Irish credit cards typically charge around 22.9% APR. Some retail cards charge higher. Credit union loans in Ireland are generally lower at 7–12%. Always check your statement for the exact rate.
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