Save or Pay Off Debt?

Analyze the best returns on your money

Having savings is important, especially when the savings are part of an emergency fund or a hedge against loss of income. But when you also have debt, such as an outstanding credit card balance or loans, it might be better to use your savings to pay down debt. This calculator helps you make the best decision, based on the interest rate you're earning on your savings versus the interest rate you're being charged on your outstanding loan balance. The difference between earning interest and paying it gives a good indication of where you can get the best return.