Finance & Irish taxes · Calculator companion · By K Imports
Debt avalanche and snowball: practical guide
This guide explains how to use the Count.ie debt avalanche and snowball. Allocate a fixed debt budget across several balances. Follow the inputs, method and worked example below, then compare your own scenario.
Guide written .
Open the Debt avalanche and snowball calculatorWhat to prepare
- Find the relevant statement, payslip or transaction record rather than estimating from a bank balance.
- Identify the tax year, transaction date and whether each amount is gross, net, annual or monthly.
- Separate known facts from assumed rates and check eligibility against the linked official sources.
Understand the inputs
- Extra-payment strategy
Options: Highest interest first; Smallest balance first.
The calculation method
Pay fixed minimums; roll the remaining budget into highest-rate or smallest-balance debts.
Worked example
Illustrative inputs and their result.
Example inputs
- Debts: balance, annual rate %, monthly minimum
- 4000, 18, 120 8000, 7, 180
- Total monthly debt budget (€)
- 500
- Extra-payment strategy
- Highest interest first
Calculated example result
- Repayment Months
- 27
- Total Interest
- €1,286.05
How to interpret the result
Distinguish a tax saving, a tax bill, cash received and money remaining: they are not interchangeable. An estimate does not establish eligibility, filing compliance or when a refund will be paid.
Compare the same income or transaction under one changed assumption at a time. Keep a record of the year, date and assumptions so a change in the result can be explained.
Common mistakes to avoid
- Do not mix tax years or apply a newly announced measure to an earlier transaction.
- Avoid counting an allowance, credit, contribution or loss twice.
- Check exclusions and personal circumstances before relying on the headline result.
Assumptions and sources
Rows: balance, annual rate %, monthly minimum. Rates and minimums remain fixed.
If your case falls outside this scope, use a more suitable calculator or contact us about an unclear method.